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Title: [2018-12-01]Google Searches for Bitcoin Rise Again, While the Crypto Market Goes Post by: Vladdirescu87 on December 02, 2018, 10:23:00 AM Over the last couple of weeks, Bitcoin price significantly dropped, losing 70% of its value since September 2017. This bloody bear market seems to be the most severe in a long period of digital currency history. Luckily, the crypto market has started to recover step by step, with Google search trends for Bitcoin rising accordingly.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/google-searches-for-bitcoin-rise-again/ https://coinidol.com/upload/resize_cache/iblock/34e/900_900_1/34e4996bf7d5b18d1dc983bb36849fd4.png Title: Re: [2018-12-01]Google Searches for Bitcoin Rise Again, While the Crypto Market Goes Post by: hatshepsut93 on December 02, 2018, 12:18:56 PM The article repeats the myth that the rise of google searches signalize an upward trend. In reality, if you look closely at the data, you can see that google searches started to rise around 10th of November, just when the price has started to crumbling. So, the actual correlation is that during big price moves, people tend to google more, perhaps looking for explanation or just for news.
Title: Re: [2018-12-01]Google Searches for Bitcoin Rise Again, While the Crypto Market Goes Post by: KryptoKai on December 02, 2018, 12:23:29 PM The sudden drop was kind of shocking and coincided with the bitcoin cash war. It is the only thing that could have caused it due to a lack of FUD and hacks. The google searches indicate that is at least a strong interest in bitcoin even if it's just an explanation of what happened
Title: Re: [2018-12-01]Google Searches for Bitcoin Rise Again, While the Crypto Market Goes Post by: nutildah on December 03, 2018, 01:01:14 PM I think the increase in searches is probably a combination of the two comments mentioned above... people looking for an explanation for the drop (and the drop having penetrated major media outlets) as well as the BCH fork, which was a reasonable catalyst behind the drop.
Interestingly, searches for the term "cryptocurrency" have still continued to drop during the last 6 months, and searches for the term "blockchain" have been remarkably stable over the last 6 months... The average number transactions per day are also on the rise... Really I think any activity is good activity. When bitcoin really starts to wane out of popularity is when we need to be worried. Title: Re: [2018-12-01]Google Searches for Bitcoin Rise Again, While the Crypto Market Goes Post by: LeGaulois on December 03, 2018, 04:06:43 PM Quote Luckily, the crypto market has started to recover step by step, with Google search trends for Bitcoin rising accordingly. Started to recover what; Did you check the market stats? It isn't relevant to the actual market. Where do you see a comeback? Because it increased by 3% last night doesn't mean the market is recovering, no sense. Now if the market increases by 4% daily during 45 days then yes we could say the market is recovering. |
