22.04.2020 BTC Daily Analysis

22.04.2020 BTC Daily Analysis

Bitcoin and crypto haven’t been spared the recent crash in global markets. From its February peak of $10,500, the price of BTC is down around 33% as of April 18th, falling in tandem with global equities and commodities. And yet, multiple sets of data and other signs indicate that the crypto industry is anything but dead and that yet another full-blown bull run is on the horizon. Bitcoin trading remains banned in China, but that has not deterred its citizens from exploring the cryptocurrency as their potential alternative investment. That is evident by the cryptocurrency’s growing search trend in the world’s second-largest economy. Data on Google Trends shows that volume for the keyword ‘Bitcoin’ is set to hit a perfect 100 this week in China, proving that more users are looking into the cryptocurrency amidst the Coronavirus-led global economic crisis.