Bitcoin Forum

http://shrani.si/f/2t/cn/2ayblVPH/12aac81fc6ba41dfba461c14.jpg

Google Trends went crazy for the Btc search
This is the chart for the 90 days timeframe  (world)

There is also a huge (insane) amount of transaction today 94,504 BTC or 1,018,147,922 USD.

https://whale-alert.io/transaction/bitcoin/4410c8d14ff9f87ceeed1d65cb58e7c7b2422b2d7529afc675208ce2ce09ed7d

Huh. Quite weird that the spike up in search volume is for "btc" search query and NOT "bitcoin". I know that search volume for "bitcoin" is always going to be a lot higher than "btc" hence the "btc" search query is a lot more sensitive in terms of search volume movements hence the huge spike, but I was expecting at least a small blip higher than the average on the "bitcoin" search query. It was pretty much almost flat.

https://i.imgur.com/1Dwyp0Y.png

That is pretty weird behaviour for the search term ‘BTC’. If you perform a side by side comparison to the term ‘Bitcoin’ (which has always shown more results than BTC), google trends places the interest for BTC in a 100:6 relation, which seems clearly wrong.

Adding and deleting comparison terms throws errors pretty often now, so it looks like of data error from the 31st of August onwards, setting the whole chart off-scale.

Edit: I’ve looked around and some refer to it as spam queries on Google, probably in an attempt to manipulate the price by affecting bots that may consult this parameter (see https://www.forbes.com/sites/billybambrough/2019/09/05/something-very-strange-is-going-on-with-bitcoin-and-btc-google-searches/#6baf794547ea for example).

I guess that this has something to do with Bakkt warehouse accepting Bitcoin deposits starting today! Whales are on parade!

Reference: https://www.coindesk.com/customers-can-deposit-bitcoin-to-bakkts-warehouse-starting-next-week

Simply don't trust the google trends charts and data.I don't understand the meaning behind the google trends numbers.What is 100 for btc search on August 31st?Is this some kind of percentage?Can't they just show us the quantity of searches for that term in the selected time frame(just like in Google Adwords).
The 1 billion USD btc transaction has nothing to do with the increase of btc searches in Google trends.

The '100' represents the peak number of searches for a given term in the timeframe analysed, as a proportion to all Google searches that day. Then all other days values are relativized to that ratio.

Say that on the 31st of August BTC was searched on Google 1M times over 100M Google searches (1% really of all searches), and that this ratio (1:100) is the best for BTC historically. That 1M searches is mapped to 100 points on Google Trends, since it is the maximum historical ratio of the number of searches for BTC over total searches on Google. A date with a 50 marker means that the ratio of searches on that day was half the ratio of the day when the 100 marker was set (i.e. BTC searched 0,5M over 100M Google searches that day).

The indicator is a relative one, since it relativizes the searches in relation to the peak moment. That means that an indicator of 50 could have a different number of searches on each of the days with that value  (i.e. 0,5M over 100M searches, or 0,6M over 120M searches would both render a value of '50' in the running example). Two same values do not mean that the number of searches was the same.

They do not give the number of absolute searches like Adwords, just relative indicators to the peak.

Now if somebody has found a way to spam fake automated non-organic searched on Google for the term ‘BTC’, going under the radar, then that could account for the stats completely thrown of course.

Edit: Here is an alternative explanation: https://coinnounce.com/btc-is-taking-over-google-trends-again-reason-behind-the-sudden-spike-explained/ -> Bahamas Telecommunications Company(BTC) ... feasable alt-speculative theory?

Sometimes I wonder which comes first, the GoogleTrend uptrend( lots of interest in Bitcoin) or Bitcoin uptrend(the increase in price). My guess is that when Bitcoin increases in price, the mainstream media and "Crypto influencers" will break the news and their viewers/fans will Google search it for confirmations

I think this is true mate, i see some sort of manipulation going on otherwise it makes no sense at all for BTC to show more results compared to Bitcoin. Most people who are getting to know about bitcoin for the first time do not know the BTC symbol, so they search query is always "Bitcoin"

Also the spike is too abnormal to be true. If it was a gradual increase then it would be a little believable.

No clarification whatsoever has surfaced regarding the $1B bitcoin movement earlier, and I think that has something to do with all these spikes and uptrends lately. Though this is a good picture to paint for bitcoin, still Google Trends isn't a reliable source to gauge the current interest for bitcoin, knowing that there are other factors associated with growth rather than just these fancy stats.


That's quite tricky to achieve. Tried searching continuously on Google once--and that's without the aid of any spam bots whatsoever--and every so often, a captcha appears out of nowhere to prove that I am not a robot. If someone effectively bypassed that, then that could explain the latest peak, but no.

That was probably someone (or a group of people) moving their coins to get ready for the Bakkt Warehouse which opens up today.

Talking about bakkt, they just tweeted this: https://twitter.com/Bakkt/status/1169958283517542407

I wouldn't be surprised if more wallets with big amounts of bitcoin start maving their coins because of Bakkt.

It can be very costly(depending on scale), but this can be bypassed by using catpcha recognition services like 2Captcha. Now, it doesn't make sense to fake the search volume of a certain keyword, but if this is really an attempt to manipulate the prices through the indicators of certain bots like DdmrDdmr is speculating, this can be worth the cost. It just completely depends on how much money they could potentially make by pulling off something like this.

This Google trend variation further makes me to take a look on both the searches BTC and BITCOIN :o
The one billion transaction in these few hours may bring a huge change and feeling this might be a positive sign for a leading change in the crypto market. Is this sign a right time to invest?
 

lol i googled BTC and the first news result was a Forbes article about exactly this spike. maybe it is a bug in Google trends chart. the abriviation isn't really something people would search for.
the article had some interesting theories though!
https://www.forbes.com/sites/billybambrough/2019/09/05/something-very-strange-is-going-on-with-bitcoin-and-btc-google-searches/

is it really?

IF that chart and data are correct that very well could be a leading indicator (https://www.investopedia.com/terms/l/leadingindicator.asp) of a price move up on the horizon. I think there probably is one coming.

This is beyond my understanding...
No offense to any Romanian or Bahamian (I had to google this term, lol) around here but I'm pretty sure that people in Eastern Europe they really don't give a damn about a Bahamas telecom company.


Nothing special:
https://www.blockchain.com/en/charts/output-volume

People are saying it's to do with the Bahamian internet and phone provider BTCBahamas. There can't be very many people in the Bahamas and no one else is going to give a fuck. Perhaps it's the diaspora checking whether it works as they try to get hold of relatives there.

even if that's the case people don't search for BTC, they search for "BTC Bahamas" or the full name as "Bahamas Telecommunications {Company}". not just BTC or at the very least "BTC everyday" as their logo says. but if you check google trends for these terms none of them show any kind of spike!
Bahamas Telecommunications Company is basically dead with 0 searches :D

https://i.imgur.com/HruoqA4.jpg
https://i.imgur.com/RPPh9WH.jpg

Not only that. I'm going to assume that well, duh, the people that are in the Bahamas are the ones that's going to search for BTC Bahamas, and not the people in other countries like the US. But based on my Google Trends search graph below, the people that are actually searching for BTC are from the US. You can select where the search demographic would be from. It would make no sense for the people in the United States to be mass searching for some Bahamas Telecommunications company.

https://i.imgur.com/WP2Uwzw.png

You know what? After reading your post and the article I immediately check Bitcoin price and the whole market, it's not what you can consider a  massive gain for Bitcoin but still enough for us to be happy, we need more of this, just last month it hit a record $13000 but after going down again to $10k level people thought it will not break the $11 k level again.

It's only a matter of time and hopefully, this month Bitcoin will reach $12000 again, it's about time something great should happen in preparation for the halving.

The Bahamas is on the US's doorstep. Tons of Americans will have friends and relatives there. I couldn't give a shit either way but maybe they're getting some automated message mentioning BTC when they try to call. 

Maybe the news related to Bakkt has a role in the current surge in bitcoin search, the increase in bitcoin searches will probably have an effect on price increases for the next few days.

Still doesn't fit the scenario

https://trends.google.com/trends/explore?date=today%205-y&geo=US&q=btc

First:

The top states are:

Normally you would expect Florida (https://en.wikipedia.org/wiki/Bahamian_Americans) to be there, right?
Second, the line is flat during other hurricanes or storms that have hit the Bahamas even in 2017 when Irma and Maria struck the islands.

Neah, it's somebody trying so hard to influence google trends he actually may achieve the opposite.


LE as I don't want to create a post just for this but..


How does it feel to be proven wrong in 5 mins?  ;D
https://i.imgur.com/5l6SI9J.png

By this time tomorrow evening Bitcoin may be above $11,500 as it has find comfort around $10,800 and this is connected to what op has found out on Google search. Remember that sometime in May or April people searching for bitcoin on Google also went up like this and it turned out to be a bullish market. I will take this as a bullish signal and this time around bitcoin might get above $15,000 if this is combined with the bakkt launch.

Google trending were also a manipulated marketing strategy. If bitcoin has reached a big spike all of the sudden this might be true that a large number of people are with plans to invest into bitcoin as the market outside cryptocurrency is experiencing a massive outburst. Years back when bitcoin marked its ath it was one among the top searched word on Google. With this we can expect a day same as the past.

That's right, "bitcoin" search query posted here isn't "btc" search request because btc is still universal, word btc doesn't always refer to bitcoin. In fact I searched for word btc in a google search and I only found bitcoin article on top few pages, but after that there were several websites such as company profile, place names, etc. So word btc is still too universal, @OP should provide more specific pictures and explanations.

https://i.imgur.com/PLEL93u.png

Here we had a nice week with btc speculation:
https://bitcointalk.org/index.php?topic=5182395.msg52377811#msg52377811

Why does a whale moving in have anything to do with a high search volume?

And as others have said, instead of going up it is going down.
https://i.imgur.com/Dwnllde.png
But I believe the likelihood of going up again is very high. But the 94k btc is really awesome!

https://themerkle.com/alert-over-1-billion-in-btc-transferred-to-an-unknown-wallet/

Whoever owns this address is living his life in full blast but hopefully, no security threats.

https://www.blockchain.com/btc/address/37XuVSEpWW4trkfmvWzegTHQt7BdktSKUs

They can't just get filled for their thirst for bitcoin. I just say in my neighborhood am involved in bitcoin and Every one would be like pls can I teach them what is bitcoin. Bitcoin to most is effortless dollars waiting to be taken

I don't know about that. There was this high initial hype around Bakkt, but it was when people were hoping that it could drag Bitcoin out of the bearish market. Moreover, the initial failure of the project probably disappointed a lot of people.
The points about the Google trends algorithms having certain weaknesses that are now exploited seem to make more sense to me.
Oh, and as for that big transaction, it might also be totally unrelated to search results, and the former can be a technical operation by an exchange as people in another discussion thread suggested.

It didn't fail. It was postponed until all the regulatory framework is done and it took a bit longer than expected. About a year longer :D

There's still a lot of hype surrounding BAKKT because it's a really good project that brings to the space something that wasn't there and that was needed. The mere fact that they were able to get a green light from the regulators shows that much has changed for Bitcoin in the last 2 years.

Many people began to be interested in BTC and began to do research through the Google search engine. One year before halving happened, maybe they were getting ready before next year.

"marketing strategy"! what are you talking about?
nobody gives a shit how many people are searching for a term apart from some bored news sites that look for articles to write. investors look at the potentials not at what others search, and so on.
not to mention that like many other things, it moves AFTER the price rise not before it. in other words in 2017 when price was rising the search increased AFTER the rises meaning first price goes up, then the media coverage comes and then people become interested and finally search for it to see what bitcoin is.

I don't know if Google trending is being manipulated or not, but I think it will depend on each country. The result will be different from one country to another country. So if in one country, bitcoin has been searching for a million people, it doesn't mean that in another country will have the same thing as that country. Perhaps, we can compare the result in the big country first, so we know which country that shows us a huge search about bitcoin.

I think the trend of bitcoin will grow in this year and the next years as people want to search for another opportunity to make money. And if many people can find that bitcoin offers them a way to make money, that will attract more people to come into bitcoin, and that will make bitcoin grow fast.

Still Increases Its Searches

That's what I thought so too. Bakkt is starting to make its moves now and more investors are getting interested in Bitcoin because Bakkt is Backed by those large names. Although the price is staying at $10,000, it seems that Bitcoin is getting more attention. Maybe when Bakkt starts to launch, the price of Bitcoin might increase.

Thats good but its not much i think.real trend will start with fomo road to 20k or more.they trigger eachother thats how bitcoin will reach to ath.

That is, before, almost no one searches for Bitcoin in a search engine, and now about 100 requests?
A major transaction is a transfer between addresses of a cryptocurrency exchange

This is like one of those periods where BTC accelerates really fast and went past the 5 digit mark for the first time and it was visible how people wanted to know everything about it. Doesn't look like anything much is happening on the market and yet there is a massive spike in searches which is a good indication for the market moving forward.

Bitcoin is still relatively low compared to its high point a couple of years ago, so the Google searches will be less now. But they will be increasing on an everyday basis as more people decide to invest in Bitcoin for the first time, they will have to Google how to buy it, etc.

And finally Google Trends is back to "normal":

See https://trends.google.com/trends/explore?date=2019-07-29%202019-09-29&q=bitcoin,BTC

All in all, the anomaly has lasted a whole month with BTC searches being way out of line and above the search for the term Bitcoin. The ratio is now back to 4:1 in favour of Bitcoin as before the (artificially manipulated) anomaly produced.

Note: Some people need to read the OP and not just the last entry. This thread is about an anomaly between the two terms on Google Trends, not on whether Bitcoin is sought a lot now per se.