In the latest analysis by Leverage Trading, we analyzed which countries have been most actively engaged during the ongoing “crypto winter” which started after the Bitcoin ATH of $66,953 on November 10th, 2021.
We examined the Google search rates for various transactional cryptocurrency terms such as “Buy Bitcoin”, “Trade Crypto”, and “How to Buy Bitcoin” during this period.
Here are the key findings:
- Nigeria consistently displayed the highest levels of interest across all three search terms, indicating a strong and resilient cryptocurrency community.
- Nigerians remained most active in buying, trading, and seeking information about Bitcoin.
- The data reveals that countries such as Singapore, Lebanon, the United Arab Emirates, and Kenya maintained notable activity in crypto trading during the current “crypto winter”.
- Several factors contribute to the sustained interest and activity levels observed during the crypto winter such as financial gains, regulatory frameworks, the overall need for digital assets, and the level of awareness and education about cryptocurrencies in each country.
Source: Google Trends
Commentary by Leverage Trading:
“Despite the market downturn and increased volatility, Nigerians have displayed an impressive commitment to the cryptocurrency market. This is proof of the country’s young and dynamic population, as well as the challenges they face in traditional financial systems. Nigeria’s sustained high interest in buying, trading, and learning about Bitcoin sets it apart as a key market to watch in the months to come. We believe that this showcases Nigeria’s increasing appetite for alternative financial solutions and its potential as a significant player in the global crypto landscape.”