Interest in buying Gold and Bitcoin rises amid US banking turmoil

As the banking sector in the United States faces instability, Google Trends has detected a significant increase in searches related to purchasing gold and bitcoin. In early April 2023, the search query “how to buy gold” reached a score of 100, while “how to buy bitcoin” hit the same score on March 20, 2023.

Google Trends data reflects growing demand for Gold and Bitcoin

Over the past six months, gold’s value has surged by an impressive 20%, with one troy ounce of .999 fine gold currently trading at $1,998 per unit. Bitcoin (BTC) is now trading just below $30,000 per unit, having increased by 8.9% in the last 24 hours as of April 26, 2023.

Both gold and bitcoin have experienced a rise in value following the banking crisis in mid-March, which saw the collapse of three major US banks.

Market watchers are closely monitoring the situation at First Republic Bank, which lost over 50% of its value during Tuesday’s trading sessions, as reported by Cryptopolitan.

Google Trends data shows that the search query “how to buy gold” has trended worldwide in the last 90 days. The search term reached a score of 90 out of 100 on March 20, 2023, and peaked at 100 on April 6.

Currently, the score for “how to buy gold” stands at 62. However, the search term has generated considerable interest in regions such as Singapore, Australia, St. Helena, the United Arab Emirates (UAE), and Canada.

Historical trends and regional interest in Gold and Bitcoin

Worldwide data from 2004 to the present day reveals that the “how to buy gold” search term has a score of 85 out of 100, with its last peak score of 100 recorded in August 2011.

In addition to gold, Google Trends data indicates that interest in the search term “how to buy bitcoin” has also grown, achieving a high score of 100 on March 20, 2023, based on 90-day statistics. The search query “bitcoin” was also on the rise from mid-March to April.

The collapse of three major US banks—Silvergate Bank, Silicon Valley Bank, and Signature Bank—in mid-March sparked a surge in searches for terms like “banking crisis” and “bank runs.” The following day, “how to buy bitcoin” reached a score of 100, having come close on February 5, 2023, when it achieved a score of 96 out of 100.

According to 90-day Google Trends statistics, current interest in the term “how to buy bitcoin” comes from regions like Nigeria, Guam, Cameroon, St. Helena, and Mauritius.

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