Professor Analyzes Characteristics of Bitcoin Users with Google Trends
Dr. Aaron Yelowitz, an associate Professor and Director of Graduate Studies in the Department of Economics at the University of Kentucky, has released a paper analyzing Bitcoin and its users with search trends using Google Trends. As Kristoufek demonstrated in his paper, there is a strong, positive correlation between Bitcoin searches and exchange prices. Yelowitz and Mathew Wilson take things a step further and find correlations between users and interest in Bitcoin. Based on "anecdotal evidence" in regards to Bitcoin users, Yelowitz constructed proxies for four possible users: computer....
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Analyzing Twitter mentions and Google Trends data is another way traders keep an eye on emerging trends and sector rotations in the cryptocurrency ecosystem. A common saying in the investing world is “The trend is your friend,” a phrase that points to the idea that the majority of the time, sticking with the prevailing market trend will produce positive results.Some of the common metrics used to identify market trends include: technical analysis, which involves studying price charts to spot opportunities; fundamental analysis, which involves looking at a project’s underlying economic and....
Researchers at the University of Kentucky have published a new paper examining the characteristics of US bitcoin users based on an analysis of Google search data. The paper, titled "Characteristics of Bitcoin Users: An Analysis of Google Search Data", resulted in some rather controversial conclusions about the types of people that appear to be using the digital currency. However, even the researchers admit little is known about the average bitcoin user due to the lack of systematic data collection and blockchain pseudo-anonymity. Dr Aaron Yelowitz and Matthew Wilson, who carried out the....
The Google trends data for the search term “Bitcoin” shows that the curve today is similar to that of the 2017 bull market. Can Google Trends Predict A Bull Market? As pointed out by Twitter user Bitcoin Archive, the Google Trends graph for “Bitcoin” matches up with the last leg up for the 2017 bull […]
22 days ago, Bitcoin.com News wrote about a Coin Insider trends study that combed through Google Trends data in the United States. According to the report, dogecoin was the most Googled cryptocurrency in the country. Another study — published by askgamblers.com — has covered similar data, but concentrated on the U.K.’s and Europe’s Google searches. According to the report, while bitcoin is the most popular crypto asset in Europe, the study of the trends shows that the meme token shiba inu is the most popular in the United Kingdom. Trends Study Highlights the....
Since the introduction of Bitcoin, Google has become an excellent popularity indicator for cryptocurrencies. Google, the leading indicator used to track the popularity of Bitcoin (BTC) and other cryptocurrencies, celebrated its 23rd anniversary on Sept. 27, 2021.Founded by Larry Page and Sergey Brin when both were students at Stanford University, the search engine has spent the majority of its 23 years of existence being one of the primary entry points to the internet. Following the inception of cryptocurrencies, Google has been widely used as the primary method to search for new coins,....