Bitcoin Search Request Tripled During Recent Price Surge

It has been reported by Google Trends data that during the recent spike on Bitcoin prices, the search for the premiere digital currency tripled signaling a renewed interest on the new asset class.

According to Google Trends search request for Bitcoin (BTC) jump from roughly 30 to 100 after a price surge that started the night of April 2, 2019 where in BTC reach over $4,500 for the first time these year which is approximately a gain of 15% overnight.

A value of 100 is the peak popularity which represents search interest relative to the highest point on the chart for the given region and time.

It was revealed that the countries with the highest number of request was made from Nigeria, Netherlands, South Africa, Australia and Switzerlang, while in the United States the most frequent search request for bitcoin came from California, Washington, Nevada, New York and Colorado.

There are varying explanations of the pump, some say it was cause by Britons buying bitcoin ahead of Brexit while others speculates that it was a result of algorithmic trading.

Nordic Growth Market Exchange Added Two Crypto ETPs

It has been reported that Nordic Growth Market Exchange (NGM) has recently added two new exchange-traded products (ETPs) the track the value of XRP and Litecoin (TCC).

NGM is owned by Boerse Stuuttgart the second-largest stock exchange in Germany with a trading volume of 71.2 billion Euros last year

The ETPs are available for European investors and are issued by CoinsShares XBT Provider from Sweden which previously brought Bitcoin (BTC) and Ethereum (ETH) tracking products in 2015 and 2017 respectively.

According to the exchange’s press release any eligible EU investor whose brokerage or electronic trading platform ha access to the NGM exchange can add passive LTC or XRP exposure to their brokerage or trading.

It further states that the exchanges Prospectus us approved by the Swedish Financial Supervisory Authority and the new Certificates are governed by Swedish law.

A surge In New Bitcoin Wallets Amidst Market Bullish Trend

The number of Bitcoin market have surge in the past weeks in the wake of the recent cryptocurrency surge.

This was reported by Bloomberg on April 3, 2019 revealing that a lot of these wallets with Bitcoins become active two weeks prior to the market rally.

The financial news aggregator cited market intelligence firm Flipside stating that 40 to 50 percent of all Bitcoin had been held in digital wallets that were inactive for one to six months is now active.
Eric Stone co-founder and head of data science at Flipside Crypto believes that there are more people warming up to the idea of busying Bitcoin.

While it has been widely known that price movements is a result of the interest in cryptocurrencies from a few large holders, the recent move is more valid as it seems that smaller investors are waking up and perhaps signifies a change in perception or confidence in this asset class.

Bitcoin To Become The Leading Payment System In Ten Years According To Study

A software firm has recently reported that Bitcoin might be on its way of becoming the world’s top payment system in the next ten years if it maintains the kind of growth it is experiencing now.

A report of DatalLight states that in just over a little over a decade, Bitcoin managed to compete with the leaders of the payment system industry and its development is occurring at an exponential rate.

It states that for the longest time the payment system industry have been dominated by Visa, Mastercard and Paypal who offer seamless but often flawed payment options for individuals and companies.

It also notes that the two leading companies, Mastercard and Visa were established over half a century ago compared to Bitcoin which just celebrated its 10 years of existence.

Given this fact it is not surprising that Bitcoin has only around 25 million Bitcoin users compared to the total number of credit and debit cards in circulating which is around over 5 billion.

DataLight however acknowledges Bitcoin has a long way to go before mass adoption can occur, one of which is the need to address scalability issues.

As it stands BTC network can only process 7 transactions per second while Visa has been speculated to process more than 65,000 transaction per second.

CryptoTrader.Tax Partners With TurboTax

It has been reported that cryptocurrency-focused software CryptoTrader.Tax has recently integrated with TurboTax, a flagship taxation software from American Tax software Intuit.

This allows users to export tax calculations from CryptoTrader.Tax to the TurboTax filing software which supposedly make the filing process much faster and a lot easier.

David Kemmerer co-founder of CryptoTrade.Tax with the technology they have build users will just have to import their cryptocurrency trades into the platform and the software will atomically compute capital gains and losses and generate the necessary tax documents.

This announcement comes ahead of the Aril 15 deadline for filing taxes in the United States.

Cryptocurrencies in the United States are classified as property according to the Internal Revenue Service (IRS).

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