Surge in Wikipedia Views: Bitcoin in Full Rally Mode!

The Bitcoin frenzy continues to grow, as evidenced by the significant increase in visits to its Wikipedia page. This trend, observed in the context of a surge in BTC prices and anticipation for the approval of Bitcoin Spot ETFs, requires an in-depth analysis.

Bitcoin Wikipedia page sets a record for visits, unmatched since June 2022

Bitcoin, often dubbed the ‘currency of the future,’ has seen a rapid evolution since its inception. Its growing popularity is evident in various indicators, among which the number of visits to its Wikipedia page stands out.

According to data provided by The Block, the Wikipedia page dedicated to Bitcoin experienced a surge, totaling nearly 13,500 visits on October 24. Such a level of interest hadn’t been seen since June 2022, marking a significant resurgence in interest for the flagship cryptocurrency.

This uptick coincides with two major events: a notable increase in BTC prices and rumors regarding the imminent approval of Bitcoin ETFs by the SEC.

Bitcoin crossed the $35,000 mark on October 23, recording a 13% increase over a week and almost 29% over a month. This bullish trend has likely contributed to arousing curiosity and attracting public attention.

According to Rebecca Stevens of The Block Research, “the recent Bitcoin rally and the potential for a spot ETF are encouraging people to become more interested in this asset.’ ‘The renewed interest manifests more informally, for example, by increasing the number of people visiting Bitcoin’s Wikipedia page,” she added.

ETFs, potential catalysts for institutional adoption

Discussions surrounding Bitcoin Spot ETFs are currently intense. Their approval could be pivotal for institutional adoption of the flagship cryptocurrency.

According to JPMorgan’s analysis by Nikolaos Panigirtzoglou, while the exact timeline for the approval of Bitcoin Spot ETFs remains unclear, a decision should be made in the coming months. Ark Invest and 21Shares, among others, eagerly await this approval, having set the deadline for their applications by January 10, 2024.

SEC validation of ETFs would be a significant step. It could not only boost interest in Bitcoin but also strengthen its legitimacy and adoption by institutional investors.

The rise in visits to the Bitcoin Wikipedia page is a clear sign of the growing interest in this digital currency. With prospects as promising as the approval of Bitcoin Spot ETFs, the future of the flagship crypto appears bright. It will be exciting to follow this momentum in the months ahead.