A spike in Google searches for Libra has led to an even bigger spike for bitcoin in USA and across the globe.
After Libra’s whitepaper launched last week, searches for libra in US went from 19 out of 100 to 34.
While for bitcoin around the same time they more than doubled from 47 to 100 in the past 12 months.
With some variation the same can be said for worldwide searches, suggesting a potential relationship.
It’s not clear whether there is an actual correlation or whether it’s just a coincidence, but considering the publicity Libra got, many would have explained what it is by comparing it to bitcoin.
Thus many new individuals may have wondered for the first time just what exactly is bitcoin. Hence perhaps Libra’s searches fall while bitcoin’s rise.
You can see above there’s some volatility for bitcoin searches, but for Libra, it is pretty much a straight line.
That’s because they’re searching for libra horoscope, but when Facebook made the announcement, there was a spike.
As bitcoin saw an even bigger spike, this new Facebook coin may be good for bitcoin as it may inform people of just what it is and what bitcoin’s advantages are over Facebook coin or central bank fiat coins.
A lot more has been going on in the past week, however, including some capital flight in Hong Kong, high inflation in Turkey and higher still in Argentina and Iran, as well as continued Brexit Pound uncertainty in addition to much else.
So Facebook’s Libra may have been just one reason among many others for the spike in searches, but visually the relationship does look quite interesting.