Exploring The Correlation Between Bitcoin Price And Google Search Trends
There is evidence from Google Trends to suggest that internet searches for Bitcoin price can help predict major market movements to the upside.In 2017, Semrush, a search engine marketing agency, reported that bitcoin prices had a 91% correlation with the volume of Bitcoin-related Google searches. This means that the price of bitcoin rose and fell in lockstep with the number of Bitcoin-related searches. While the Semrush study showed that the search volume increased as the price of bitcoin grew, it did not say whether the searches predicted the exchange rate between bitcoin and the dollar.....
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Google search data can predict the price of bitcoin, new research has found. Academics from the University of Cagliari, Italy, compared USD trading volume with data from Google Trends in the 12 months leading up to July 2015. The results, detailed in their new paper, indicated that search volumes for the keyword 'bitcoin' correlated with - and sometimes predicted - the currency's market volumes. Using a Pearson correlation, which shows the relationship between two variables on a scale of -1 (lowest) to +1 (highest), Martina Matta, Ilaria Lunesu and Michele Marchesi found a positive....
While bitcoin, non-fungible token (NFT) assets, ethereum, and cryptocurrencies had an incredible year in 2021, none of the trends made it into Google’s “Year in Search” review. Currently, interest in bitcoin, in terms of Google searches has dropped considerably since the week of May 16th through the 22nd of last year. Search trends for the term “bitcoin” have slid 72% since it scored the highest score of 100 last May to today’s score of 28.
Worldwide Search Queries for ‘Bitcoin,’ ‘Ethereum,’ and....
Bitcoin price is barely keeping above $20,000 – a price the cryptocurrency traded at several years ago. The recent selloff has caused the search term “bitcoin” to skyrocket on Google Trends to the highest point of 2022 and over the 12-months. Does the surge in search term data suggest that investors are searching for answers? Or […]
Not many crypto search terms have come close to their peaks in spite of the new bull market, but Ethereum is a notable exception. More people are searching for the word “Ethereum” now than ever before in its history. Google Trends reveals that the number of Google searches currently being performed for “Ethereum” is at an all-time high, eclipsing search interest during the height of the last ETH bull run. Ethereum’s previous peak in search term popularity was on Jan. 13, 2018 — the date of ETH’s all-time high of $1,432.88.Google Trends Worldwide Search Interest for #Ethereum projected to....
Despite the recent big move in Bitcoin price, Google trends reveal general interest in the cryptocurrency still remains low. Google Trends For The Search Term “Bitcoin” Show Low Current Interest BTC recently had a sharp move up where the price crossed the $55k mark for the first time since May. However, despite such an increase, […]