Bitcoin: fourth among the trends of Weibo in China
Bitcoin: fourth among the trends of Weibo in China
Bitcoin

Bitcoin: fourth among the trends of Weibo in China

By Marco Cavicchioli - 11 Feb 2020

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In China, Bitcoin has placed fourth among the trending topics of the well-known local social network Weibo

This is what the Marketing Director of HashKey Hub reports on Twitter, who on Sunday shared a screenshot of Weibo, commenting: 

“Bitcoin hit $10k is now trending topic on Weibo, 4th hottest topic of today”.

Indeed, in the last few days, China is going through a difficult period due to the problems caused by the coronavirus and inflation that has exceeded 5%. 

Moreover, the Chinese, despite state bans, have always appreciated and used bitcoin and cryptocurrencies, so it is not surprising that there is some widespread interest in these assets. 

It is no coincidence that on Sunday, when BTC exceeded the $10,000 price again, the Chinese interest in Bitcoin peaked, to the extent that it was ranked fourth among Weibo’s trending topics. 

Sina Weibo is a hybrid between Twitter and Facebook and one of the most visited websites in China. It is used by about 30% of all Chinese people who have access to the internet, which is more or less like Twitter in the USA, with almost half a billion active users on average every month. 

But it is not only in China that interest in Bitcoin has increased in recent times. Google searches in the last few days have also grown a bit, albeit not so dramatically. 

Instead, the interest in halving is growing a lot, as can be seen from the increasing number of searches for the “bitcoin halving” query. 

Therefore, the growing interest in halving and bitcoin’s new achievement of $10,000 (already lost), have led to a sharp increase in interest, although this has happened mainly in China, as a result of the ongoing difficulties in the country. 

However, it is not only bitcoin that is showing an increase in interest. 

For example, on February 7th there was a significant peak of searches for Ethereum on Google, which more than doubled compared to the average at the end of 2019. XRP recorded a similar peak. 

As a result, the recent price increases are rekindling interest in cryptocurrencies around the world. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

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