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Title: How correlated are Bit[Suspicious link removed]gle searches to the price Post by: Ethan Manson on March 12, 2018, 11:08:44 PM Hi I've noticed a few people noting the correlation between bitcoins google searches and the price and the graphs are awfully similar. Apparently the google searches are at the lowest they have been in a long time so based on the connection they make we should expect more downside for the overall value. Do you think this is a reliable instrument if measurement
Title: Re: How correlated are Bit[Suspicious link removed]gle searches to the price Post by: aintnopassincraze on March 13, 2018, 02:37:20 AM Correlation isn't causation but generally here people are more interested when the price is going sky high and less interested when price is plummeting. There is a relationship to it, but it isn't "people are searching for Bitcoin, price is gonna go up now". So indirectly it alters the price but again this is because people are interested in the asset at the time, not because they are searching for it on google.
Title: Re: How correlated are Bit[Suspicious link removed]gle searches to the price Post by: TheQuin on March 13, 2018, 02:48:57 PM Correlation isn't causation but generally here people are more interested when the price is going sky high and less interested when price is plummeting. This. There is a correlation but it is the other way round. Price drives Google searches not Google searches drives price. I've seen many overlaid charts where you can clearly see that the movement in the price comes first and then Google searches follows and catches up. |