ZB Academy：The Bitcoin price index in Google Trends rises to 21
On Monday, the price of Bitcoin hit a new annual high of $19,850. In addition, the price of Bitcoin rose by as much as 40% in November, the highest monthly increase since May 2019. As the price of Bitcoin approaches its historical peak time and time again, people’s interest in Bitcoin is gradually rising. As of last week, the keyword “Bitcoin price” has risen to 21 in the “Google Trends” index that measures public interest in hot topics. This index is more than ten times that of a month ago and is also the highest level since June 2019. One of the main reasons why Bitcoin is so widely concerned is that it is difficult for traditional assets to increase by 40% in a single month. However, the Bitcoin market believes that it will return to the big bull market that occurred in December 2017, when Google Trends’ maximum index for the keyword “Bitcoin price” was 100. Well-known analysts still believe that this year’s gains are driven by increased institutional participation.
So far, according to ZB.com’s official market data, Bitcoin is currently quoted at $18,797, a 24-hour decline of 4.27%, and the highest 24-hour price is approximately $19,988.
According to a survey report released by Mizuho Securities yesterday, about 65% of PayPal merchants set Bitcoin as a supported currency, and about 17% of users have used the PayPal application to conduct Bitcoin transactions. The survey found that the rising market of Bitcoin has increased user participation, and that users use Bitcoin transactions more than three times more frequently than non-Bitcoin transactions. In addition, the survey also found that they also hold a large cash balance. But through the analysis of this survey report, we can find that supporting Bitcoin is still a huge challenge for PayPal. Only 8% of non-bitcoin dealers said that they plan to support the use of bitcoin on PayPal’s applications in the future; and close to 42% of users said they did not know that PayPal supports bitcoin.
As of today, PayPal’s stock price has risen by 2.37% to $219.20. In addition, Cambridge Blockchain, an identity management provider backed by PayPal (PYPL), Foxconn, and others, has been acquired by the Nevada-based holding company blockchain LLC. Cambridge Blockchain’s principals Matthew Commons, Alex Oberhauser, Muthu Arumugam, and the company’s software developers will join Blockchain LLC’s digital identity team, with the goal of completing full integration in early 2021.
The financial company BlockFi, a New York-based company known for its lending business, interest-bearing encryption products and trading platform, announced the launch of Bitcoin reward credit cards in early 2021. The company’s CEO Zac Prince stated that credit cards will be the first in an industry where the song is already full of bitcoin reward debit cards. Prince believes that there are already a lot of Bitcoin debit cards in the cryptocurrency ecosystem, which are all cost-oriented, and users are not interested in them. They want to earn income by holding Bitcoin.
BlockFi has cooperated with many companies in order to complete this idea. Among them, Visa acts as a card issuing network, Evolution Bank & Trust provides a bank identification number (BIN), BlockFi is responsible for connecting to the payment network, and Deserve manages payment streaming technology. The card supports the consumption of U.S. dollars to obtain bitcoin rewards. The reward amount is 1.5% of legal currency consumption. The bitcoins received by users will be deposited into their BlockFi account. The annual fee for the card is $200. In the first year of opening a credit card, BlockFi will provide a $250 allowance for users who have spent at least $3,000 on the card in the first three months.
About ZB Group
ZB Group was founded in 2012 with the goal of providing leadership to the blockchain development space and today manages a network that includes digital assets exchanges, wallets, capital ventures, research institutes, and media. The Group’s flagship platform is ZB.com, the industry leading digital asset exchange. The platform launched in early 2013 and boasts one of the world’s largest trading communities.
ZB Group also includes ZBG the innovative crypto trading platform, and BW.com, the world’s first mining-pool based exchange. Other holdings include wallet leader BitBank, as well as exchange brands ZBM, ZBX and Korea’s Bithi.
Industry intelligence and standards are headed by the recently launched ZB Nexus who embody the core values of ZB Group and open-source their reports and analysis for the public.
Learn more about ZB Group by visiting www.zb.com.
