Bitcoin Price Surges Over 10% Following Institutional High Interest – Google Searches For BTC Reach The Highest Level Since April

The last few weeks have been quite miserable for the crypto traders, and the market has fallen harder than ever during 2018.

But fortunately, Bitcoin seems to be on its way up again, and in the past 48 hours, it surged more than 10%. At the moment, BTC is trading in the green, and it’s priced at $4,198.30 on CoinMarketCap.

Institutional interest in crypto is continually growing

There have been a lot of positive developments in the crypto space during the past week.

There was some pretty great news coming from the Consensus Invest conference in NYC, and most announcements were highlighting high confidence from institutions which are building crypto financial products.

VanEck and NASDAQ

NASDAQ stock exchange just teamed up with VanEck investment management company to bring a host of new crypto financial products to the market.

The partnership was revealed during CoinDesk’s Consensus: Invest Conference.

Gabor Gurbacs, VanEck director of digital asset strategy said that the move would bring a “bring a regulated crypto 2.0 futures-type contract” to the market.

According to him, they will release early next year the very first of more such products.

“What I’d like to point out is we ran a few extra miles working with the [Commodity Futures Trading Commission] to bring about new standards for custody and surveillance,” Gurbacs commented during a panel.

According to Gurbacs, the next year will be a fascinating one.

He also made sure to add that 2018 was the year of regulation and 2019 will definitely be the year of implementation.

Google searches for Bitcoin hit the highest level since April

Google’s trend explorer revealed that the weekly number of worldwide searches for the word Bitcoin managed to reach levels that have not been seen since April.

trends 1024x308 - Bitcoin Price Surges Over 10% Following Institutional High Interest – Google Searches For BTC Reach The Highest Level Since April

Bitcoin searches in the past three days alone made up 17 percent of its all-time-high weekly search volume set from December 17-23, 2017.

At that time, BTC was trading around its record high near $20,000.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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