It’s only natural that the massive run-up in bitcoin’s price should be accompanied by an explosion of online interest for the currency. Millions of people who had never heard of it before suddenly saw it soaring in value, and wanted to find out more. That’s why Google Trends has traditionally correlated well with the price of bitcoin.
After all, what do you do as a newcomer if you read about bitcoin and decide to buy some? You don’t have a clue where to start, so your first move is most likely to Google it. Armed with that information, you register with Coinbase or another major exchange, go through KYC, and a few days later (or perhaps weeks, if you take your time to think more carefully about it) you are the proud owner of your first bitcoins. So all things being equal, Google searches should pre-figure price movements.
That’s more or less what we found last year and this year. Google searches spiked in December and dropped off a cliff when the bubble burst, just like price. Google shows interest as a percentage of its maximum, rather than as absolute search numbers, but the picture is clear https://trends.google.com/trends/explore?q=bitcoin
The week before 17 December 2017 was the high for bitcoin searches, the same day that bitcoin hit its all-time high. Unfortunately, the page doesn’t give data more granular than a week, so we can’t tell precisely which day was the peak. But the date given is the last day of that week’s results, so we can say that the week leading up to the all-time high was the most active for searches – confirming the theory of interest leading price. Searches bottomed out in June and July, twice touching just 9 percent of their December high.
And what now? It’s a little early to say, but keep an eye on the Bitcoin Trends page, because it looks like interest might be just starting to pick up again.
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My body and wallet are ready for the bull market. Let's go.
September is the start of the happy months but is actually starting right now again @crypto.inferno
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On the stock market it's opposite september is usually the worst month of the year.
We're getting ready for the next ETF denial, and we may test the 10k resistance close to the end of September. And with it's postponement, get a nice 5th correction, down close to 5-6k. Then sideways, and accumulation for February decision, which may be final and finally support the approval and Q2 2019 bull-run. If it happens earlier, more power to Bitcoin, I doubt, but who knows. And once we get the price in attention, it will spike the Google trends as attention will evolve around crypto as prices get higher and higher and mainstream media will love to get some suckers rekt! :(
ETF denials are not going to stop BTC. BTC when to 20k without an ETF.
Yes, but it went to 20k due to Futures approval and implementation.
Amazing...
And...
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The past 7 days has shown a nice increase. Price just went above 7k so hopefully we see continued appreciation from here on in.
6600 ish was super strong support. Bears couldn't sell past this price level.
You are doing a great work pls keep it up and make us informed thank you bro....God bless you
Win Bitcoin every 15 days
https://steemit.com/bitcoin/@fancium/win-0-002-bitcoin-for-predicting-the-percentage-of-change-in-bitcoin-price
really?
Yes its for true.
Google is life
strap in boys here we go, enjoy the ride
will the price of bitcoin reach at its all time high target again, what do u think about it, any body can answer my little quetion
Even at ATH (20k), Bitcoin's market cap is tiny compared to other markets in the world
yes and go beyond
The new entrances remain limited until the bitcoin reaches 10 thousand dollars.
When I die ;
Just kidding
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haha thats awesome, i never even thought about looking at trends on google. good idea! it does make sense because at the beginning of getting into BTC its confusing because its a completely new thing! registering for an official exchange, registering with a way to get your USD into crypto! its all pretty awesome and interesting and ill be on the lookout now for more google trends!!!
that words are advertising
I suspect that we're about to see another surge in interest. And hopefully another surge in price. I doubt we'll see the highs of December 2017 again this year but I'd love to see another run up in price towards the end of the year.
Google is very misleading and more rigged than the elections of 2016 in America, and more so in 2018 by 300 times or more. Try Duck Duck Go for searching and researching and more.
"Do not trust any statistics you did not fake yourself." Author unknown :-).
Pick up a little bit and then burst, all the way down to $4000
so bull trap? or real deal?
It was a great idea and the post was really nice. i like it and want read more from you. One thing about you, you think differently. I am charmed at your work.
Thanks for posting, indeed a good indicator. At least for fresh retail investors. But we need the big money this time.