Galaxy CEO Mike Novogratz said Bitcoin searches rose to their highest level in more than a year last month. Notably, Bitcoin outperformed Taylor Swift and Beyoncé in Google searches, showing huge interest in the coin.
In addition, Galaxy March 2024 Market comments Captures exciting facts about Bitcoin and the cryptocurrency market as a whole. Here are the details.
Galaxy CEO says Bitcoin topped Google searches last month in crypto market review
Bitcoin is the focus of continued gains in the cryptocurrency market in 2024. Mike Novogratz said it was one of the most searched items in March.
Last month, Bitcoin Google searches reached their highest level in more than a year, surpassing those of Taylor Swift and Beyoncé!More from @galaxyhq On Bitcoin Reaching New ATH, Continued Demand Pressure on BTC ETFs, and the Coming Halving:…
— Mike Novogratz (@novogratz) April 10, 2024
Galaxy Market Review As the halving approaches, predictions for March 2024 highlight the areas of interest for most investors. Comments said that Bitcoin showed a positive trend and hit a record high in March. It is worth noting that the price of BTC increased by 13.94% in March, while the price of Ethereum increased by 4.82%.
Bitcoin spot ETFs drove the surge, with trading volume rising to $111 billion in March. This is approximately three times the monthly time frame.Given such an impressive performance, it’s no surprise that Bitcoin’s performance Exceededit International icons such as Beyoncé and Taylor Swift.
Additionally, Bitcoin broke above its previous pre-halving high, suggesting that price gains may be in the future. Bitcoin has enjoyed positive market sentiment, largely due to the approval of its spot ETF.
But, that guess The situation surrounding the Ethereum spot ETF is slowly disappearing, and it may not become apparent anytime soon.
Bitcoin’s rise has also affected the performance of altcoins such as Solana and meme coins such as WIF. As of the end of March, the total market value of the top ten Meme coins rose to US$61 billion, a significant increase from US$29 billion last month.
That also lines up with what I’m hearing, but to Jake’s point, it doesn’t mean there won’t be approvals this year, it’s just that it’s obviously close to the May deadline and the SEC staff hasn’t done anything meaningful with the filing yet Participation.
But who knows they might grow parabolically… https://t.co/5EtKGL1YkI
— Eleanor Terrett (@EleanorTerrett) March 11, 2024
Meanwhile, the upcoming U.S. election could impact cryptocurrencies and financial markets in general.According to a March Paradigm poll, 19% of registered U.S. voters have purchased cryptocurrencies. More than 11 million voters own more than $1,000 worth of crypto assets or investments.
Several countries recognize Bitcoin as a valuable asset
Interest in Bitcoin investing is spreading to other parts of the world.Bitcoin is gaining more attention on the international stage Decide Established by the Japanese government.
according to ReportLater, Japan’s Government Pension Investment Fund (GDIF) announced plans to diversify its investment portfolio. GDIF hopes to achieve this through a Bitcoin distribution.
GDIF is the largest pension fund by assets under management (AUM). The move will therefore provide investors with an alternative during times of market uncertainty.
It is worth noting that El Salvador’s President Nayib Bukele Endorsement The rise of Bitcoin has encouraged international investors.In addition, the President explain It has no plans to sell its Bitcoin holdings in the short term. Impressively, El Salvador’s BTC portfolio is worth $400 million, recording huge gains during this bull market.
However, El Salvador’s BTC holdings fall short of the portfolio of MicroStrategy, a famous BTC whale.Michael Saylor’s company reportedly holds as much as 214,000 BTC tokens worth the aforementioned $15 billion.
Microstrategy’s Bitcoin holdings are now worth over $10 billion pic.twitter.com/6ndiLNZed1
— Will (@WCclementeIII) February 15, 2024
Given growing investor confidence, Bitcoin’s popularity and adoption will likely continue to rise.
