The price of bitcoin tends to mirror people's interest in the cryptocurrency, with the level of Google searches providing a near-perfect correlation to the virtual currency's value. This could be good news for investors, as new research suggests that interest in cryptocurrency is expected to more than double.
The latest consumer economic report from Dutch banking giant ING revealed that fewer than one in 10 Europeans currently own cryptocurrency, however 16 per cent of people expect to own them in the future. Surveying nearly 15,000 people across 13 countries, the Dutch bank said the survey reflects a gradual change in attitude towards cryptocurrencies like bitcoin, ethereum and ripple.The survey's publication comes as bitcoin hovers around its lowest price of 2018, having briefly fallen below $6,000 on Sunday, 24 June. Analysts have blamed the most recent price crash on a series of hacks on cryptocurrency exchanges, as well as an increased focus on regulation in the space.
Bitcoin has since returned above $6,000 but still remains at around 30 per cent of the highs it reached late last year.