Bitcoin Forum

Google Searches of bitcoin is up 33% because of the trending market price of 10,000$

https://i.imgur.com/3lN4TEe.png

We also have bitcoin halving google searches that increase since there are only 3months before the bitcoin halving.

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


Reference:
https://bitcoinist.com/bitcoin-google-searches-surge-as-crypto-bulls-gather-momentum/

---

Okay, these are just facts. But what do they tell us? What should we discuss here?
I think it's natural that Bitcoin halving search results are growing since the event is just months away. As for Bitcoin search results being 33% up, I don't know if it's really because of the price, but it might be the reason. I am also wondering how much this search result number fluctuates over a longer period of time (is 33% a big deal or not). Moreover, does the amount of searches rise when Bitcoin is going down? So is it the fluctuation that causes the rise or positive news only?
In any case, searches don't tell us much about what's going to happen, they might not lead to anything.

Price of bitcoin and google trend for bitcoin has correlation. It's common though; whenever BTC goes up, more media, more news and more people knows about this. As a result, people do much search on google about BTC. Moreover, when price goes up, people used to have more information on it (My experience  :D ) As you can see the trend was at ATH when BTC price was ATH as well at December 2017.

I am pretty sure that he wants to provide information about increasing people's interest in bitcoin, and I think this will continue to happen as bitcoin prices continue to grow. out there, there are people who know about bitcoin and don't care about it, and when they see the current situation, they come back to care and look for information on how to produce bitcoin. I think that the search for bitcoin will continue to grow at this time.

This is natural that the percentage of the google search was all about bitcoin and bitcoin halving because people also see the rapidly to the moon of the bitcoin and other cryptocurrency such as ethereum and xrp and I can say that it is already a fact that may boost the google search to 33% because of the price of bitcoin as well as the bitcoin halving which the people say that this is also one of the many reasons why bitcoin is having a great impact to the market today.

It's normal and fully understandable thing. It would be strange if there wouldn't be any correlation between these things. It's same like number of active users or new signups (can't remember which one thing exactly) on Bitcointalk also directly correlste with Bitcoin price. Or number of Google search of Christmas songs goes up in December :D.

Not a surprising thing, as people must be attracted to see the progress of Bitcoin price this time. And most passive BTC holders will decide to analyze and grab information related to the potential move on Bitcoin. On the other hand, there will be some newcomers who are learning many sources and reading current news in order to prepare to join BTC investment. Most of them seem to have the intention to try their luck because of following Hype on social media. So, simply the keyword "Bitcoin", will rise up! 

I guess, the investors and swing traders who were constantly monitoring the price also had big contribution to the increased percentage of Google searches. Also, the people who isn't much of a Bitcoin believers and were trying to figure how to acquire and monetize the current price trend.
For sure, It will keep increasing until next year when the halving effect on price subsides.

Anybody already active in Bitcoin's ecosystem doesn't use Google, he/she uses bookmarked pages. Imagine yourself active in cryptocurrencies and so visiting related websites daily/weekly, do you type the keywords daily in the search box or do you save pages in bookmarks to save your time? I guess your bookmarks...

To me, the increase in google searches comes from people who start to take interest in BTC or look at it by curiosity because they heard about it in the media outlets, etc. But the most important is does it convert in potential Bitcoiners?

An increase in Google searches doesn't really mean something considering 50% of Google searches end without a click to other content (https://sparktoro.com/blog/less-than-half-of-google-searches-now-result-in-a-click/)
It may be just people looking to get the BTC price since when you search "Bitcoin" the first thing you get is the real-time rate

The Google search trend changes rapidly, when it comes to bitcoin it has been increasing tremendously with time. At times, particularly by the time of price increase more people get to know about it. This itself a reason for the increased number of searches. Maybe this will drop a little while there is price crash.

The market growth and the widening of the community can be confirmed through these statistical information, because even now there are people who aren't sure about the growth of bitcoin.

Least expected I guess.

Bitcoin is skyrocketing again and those searches are from people who are interested again of watching the price rally of bitcoin. And I think, they are in between now whether to buy before it pumps more or wait until it dips.

Which could trigger price movement up or it won't :D.
You never know, if 33% is enough to make ripple effect or it needs 50-70%.
Predicting price is really hard, but for us day traders its a must.

Smells like incoming Fear Of Missing Out (FOMO). It's normal for Google Searches that can track current trends and on Bitcoin side; it's already given, once the price is slowly climbing, here the people started to look on it like new people introduced Bitcoin for the first time.
But that 33% increase in Google Searches of Bitcoin is doesn't mean all or must of them are buying Bitcoin or using Bitcoin.

Many people are interested in the news that Bitcoin will be halving in May. This has sparked public interest in getting the latest news about bitcoin.
Then bitcoin is able to reach prices above $ 10,000 and then continue to rise. This makes both old and new investors enter the bitcoin market.

Bitcoin prices go up certainly affect the altcoin that will do the recovery when bitcoin sideway in some time. Bitcoin dominance has decreased and this will be the Alt season that many people have been waiting for.

Many Good news supports Bitcoin to rise and many bitcoin experts also predict bitcoin will reach a new ATH later. Hopefully the market situation will continue to improve and we will celebrate together.

In the local forum in Spanish, we also have this discussion, in fact, the peak of September 2019 is seen here:https://trends.google.es/trends/explore?date=today%205-y&q=%2Fm%2F05p0rrx,btc (https://trends.google.es/trends/explore?date=today%205-y&q=%2Fm%2F05p0rrx,btc) Google trends always play with traffic according to the search criteria.

 In this case it is normal for bitcoin halving searches to be on the rise, many are looking for data that will provide security information for their investment, the "Bitcoin Halving" effect may not occur immediately, but as time passes It is most likely. You can visit our Spanish thread: https://bitcointalk.org/index.php?topic=5182465.20  (https://bitcointalk.org/index.php?topic=5182465.20)

Yeah, I get your point, but If I put myself as an example. I don't visit crypto related websites if I'm on a different device, specially in the office, instead I just simply use Google for a quick check on the current BTC price, because I swing-trade sometimes. Nevertheless, you have a strong point.

It does, remember a lot of people were trapped purchasing at a higher price expecting more than the $20,000 ATH in 2017.



Exactly what I meant in my top comment.

I think that the only time when Bitcoin search interest exceeds the one in late 2017 is if we hit another ATH again and never before. We had a big rally back in 2019, however most people weren't interest in bitcoin anymore. The bitcoin halving search term doesn't mean much, it could be regular users like me googling it to check what day it will occur on. Doesn't mean the price will rise since the amount of searches for halving is rising.

I asked a few people in 2019 after the rally to $13.8K and see if they were still in the game. Most just went to trade stocks and weren't interest. We need Bitcoin to break $20K, and head to $50K and be on every news and newspaper everyday and that will result in a new higher interest over time on Google trends.

This not new in 2017 and 18 Bitcoin was the most search keyword on Google and if history repeats itself the same will happen in 2020 and 21. As the Fiat value of Bitcoin steadily goes up, more people will be trying to understand this phenomenon and will be eager to invest in it.

Yes it could trigger IMO, ripple effect doesn't really concern the possibility of such surge especially if the market is full of hype. Like the halving of btc which literally gain so much effect since the start of 2020.
Still weighing if the time is actually good and can produce a good profits if they turn or decided to buy now. But only traders can specifically predict which track btc could dive. For now, I think better yet to trade minimal btc and keep holding cause halving is just 3months away. I dont know if the market can still pullback in spite of continuous pump.

There is so many reasons why the searching of bitcoin by the people have increase and this is already because on the reason that the value or the price of bitcoin has gone so good in which it is already in $10,300 already and still continuously pumping up and we already also known that this is also because on the reason that the bitcoin halving will definitely come right now so this probably the main reason why the percentage of the person who are currently searching on google about bitcoin and bitcoin halving has increased.

that 33% coming from How many searches?because it can be same users that searching time and time again that is why the percentage goes up but not really a thing to celebrate.
searches are nothing if the investment  is not going  follow because search cannot make the price grow mate.
but thanks for the share though i don't see anything important,Sorry.

that is true but it should be mentioned that the relationship is a one way thing from price to the search trend not the other way around. some people make the mistake of thinking that whenever there is a spike in google trends it is "followed by" a price rise. but it is not true, in  fact the exact opposite is true meaning when price goes up it is followed by a spike in price.
surprisingly you can even see some people use google trends in their speculation!!!

This only imply that Bitcoin and the rest of cryptocurrencies are entering the mainstream once again. The fact that halving is getting closer, people tend to go back at the business believing that we bullish market will revert just like happened way back before. Entering the zone worth of $10k of Bitcoin makes everyone wonder and interested but what if Bitcoin set a new record of ATH, pretty sure this will absolutely boost Bitcoin related topics more further.

Google searches about Bitcoin went up so? I think there is nothing special about it.
This doesn't mean that the market would go up we don't even know if they are some new about Bitcoin or just maybe checking the price every now and then.
We couldn't tell if this would bring a new investors to the market or the rise is due to us investors who are always checking the price.

I see that it goods for bitcoin popularity because soon, more people will know about bitcoin, and they will join in bitcoin world like what we did. I think the advertisement for bitcoin is everywhere so that it can attract more new people to see bitcoin and that can make them curious. Once they are interested, they will search for more information, and that can be a way for them to learn about bitcoin. If we can spread more about bitcoin on the internet, it will allow many people to read about bitcoin.

It is coming and I just wish that it wouldn't the same as 2017 because that was a temporary pump and was quickly followed by a massive dump. I hope that by this time it's going to be a gradual rise which will have a stable price.

Yup, not all of them will buy but the interest and sentiment has quickly increased and it will be a factor to contribute for this upcoming or actual bull run that we have right now.

The increase in the amount of Google searches about Bitcoin happened before,but we should try to analyze it somehow.What people are searching "bitcoin" in Google search?Are they noobs,who heard about bitcoin for the first time?Are they experienced bitcoin traders and HODLers,who are just searching more often about bitcoin because of the price pump?I really doubt that Google Trends can pull off such precise info.Maybe they will improve their service in the future.

Google Trends does not take into account searches made by the same person (IP I figure) over a small time interval (they do not specify the details here).

There’s also another important factor to consider, and that is that Google Trends does not ponder all searches on their engine (which they state are in the range of billions per day), but rather a sample, rather much like surveys do that then extrapolate over the total population. Thus, the data is as good as the sample they use (of which we have no details).

Data points on their charts are also relative and not absolute. That means that a constant number of searches will possibly show in a non-linear manner on the chart, if the proportion of global searched varies.

Say for we have 1M flat searches for the term Bitcoin every day (for the sake of this example), over 1Billion global searches on Google per day. Now suppose that for whatever reason Google searches drop to 0,9 Billion searched. The effect is that, with the same number of searches made for the term "Bitcoin" the relative ratio will rise (1M/1B -> 1M/0,9B), and thus the chart will present a spike in searches. It’s true in relative terms (to all Google searches), which is what is being charted, but not in absolute terms (which are not charted).

See https://support.google.com/trends/answer/4365533?hl=en&ref_topic=6248052

Pretty obvious though that Google searches and Bitcoin price have correlation. Here you can find it being discussed in this community in 2013:

Google trends and the bitcoin price (https://bitcointalk.org/index.php?topic=167114.0).

And here in Sept 2017 study, even prior to the peaked of Bitcoin price in December.

The price of Bitcoin has a 91% correlation with Google searches for Bitcoin (https://bitcointalk.org/index.php?topic=2190837.0)

So expect a lot of this kind of trend correlations popping up, just saying.

I am searching the keyword "btc to usd" quite a lot in Google every day now and then, since the breach of 9k so I think that I am not the only one that searches these kinds of things in it. I don't really care too much about the falls nor reasons for halving as I take every opportunity  to invest every now and then.
You would expect the same as what happened to the price during the end of 2017 when it reached almost 20k that time.
I expect that sometime in the future that Google Search will also get a lot of searches like "Merchants that accepts Bitcoin".

questions that must be addressed for us to identify what is the result or effect of this Google search about Bitcoin.

that first question is really connected because just like me when i first heard Bitcoin i did search for this and read some articles,but after that i become busy and forget for a while.
i think that if what is happening now because of the Pump In market prices so people now are again being curious about This market  and how can they may earn money from this.

does this matter ? i dont think its possible to breakdown the category of the searchers  ( e.g if he is noob  , pro or what is his purpose for searching ) but it only matters here is that all of them search bitcoin and that makes bitcoin trending on google  . its normal for the bitcoin to become trending because of its  value that is now increasing  and also because bitcoin is getting older  . many countries and people are now starting to equiped thier selves with knowledge  on how to deal with this bitcoin  .

It's probably a more psychological effect. Our brains are used to sending us the command to constantly check something out when it becomes popular.

Those browsing the internet are probably typing in on Google the word "Bitcoin" more than they used to in the past few months/years because it is starting to rise again. When the price consolidates, they stop searching for it because it doesn't present any interest to them. In markets, weak hands are always more in number than the strong ones. Weak hands do exactly this.

Since the psychological limit of the $10 000 was breached, it's quite normal that the number of searches involving BTC has increased. This is due to the usual local media starting to publish articles about how BTC has seen growth of as much as 40% since the beginning of the year. Most of them check the news coming from the local level further on the internet, and fact is that most users today use Chrome and Google search.

This is a classic chain reaction which, depending on the further movement of the price of BTC can get even more intense, or slowly calm down and disappear again until some new opportunity.

Basically for us to perceive and interpret the information provided by the graph and your computation, it seems that the number of searches means and increase with direct proportion to the number of person getting curious about what bitcoin is. If the searches is merely "What is Bitcoin", and not the kind of searches that traces existence of the word "Bitcoin", my conjecture of bitcoin being popular because of curiosity is true. Nonetheless, it turns out to be false if the system of google will just track phrases of searches that includes "Bitcoin".

for me, no matter where it falls, what important is that, I am sure that there are new people being introduced to cryptocurrency, and this simple curiosity that they have would be the same as what we've experienced before and will surely lead to an increase in demand of bitcoin.

you guys already know what it means if people increases demand in bitcoin

Nah, I think Google's a bit smarter than that but yeah the point is, the algorithm's not open (and probably shouldn't be or people will game it even more than they already do) and pretty much broken to use as a really useful and objective metric. It's still important and has some meaning, just how much of it we should accept will always be the problem. I'm pretty sure searching it 100x won't make a difference as to searching it 1 time a day if bringing you the same results and forward action.

What's great for me is, as most people move away FROM Google, that it's still able to maintain this kind of interest simply means new people who're still likely to use google to search for Bitcoin means there really is new interest coming in.

This is what you expect if the price of bitcoin will keep on increasing. We already know that number of bitcoin users is increasing as well and there's no doubt if bitcoin will keep on climbing, many people will gain back their trust on it. The percentage that was given by OP is the evidence that many people are interested in bitcoin. If ever there will be more people who'll get interested in bitcoin, the more chances that it will rise up again to the moon. When it comes to the Google search I usually check the price of bitcoin so I guess by just searching the price frequently by a single person, it will add up to the percentage.

yes, i might want to ask....! But what should I ask Google.

What can be done with a 33% jump in goolge. Did we get anything about Bitcoin, I don't think so.

This kind of thing is an internet phenomenon that is never separated, maybe you should update this topic again, until the end of 2020.
Maybe Bitcoin will jump up sharply like 2017 has passed.
So, you might be impressed.

I don't think so, the time was good before everybody else got interested, once that happens it is too late. If this brings a bull run it will correct but the chances of correction increase when more and more people try to get in (late).

If you quietly invested before the 33% increase, back when it felt "boring" (sideways?) then now you could be deciding if taking profit or wait some more.

This is a good idea because there is a possibility that some investors is looking for it since it has a good market amount. They might be thinking that why not invest into it since the value of it is continuously rising. In that case, the value of bitcoin will rise up even more since the demand of the consumers will become higher day by day because of the news that they read.

One of the famous and fastest search engine today is with the use of google that is supported with the Microsoft and now many people want to use this search engine to find some information with the use of cryptocurrency because most of the time when the bitcoin and other coin gains a lot of popularity and income they getting caught their attention and search about cryptocurrency and what are those related so they can try and invest. Base on the data showed came from the google that the bitcoin and other cryptocurrency-related topics commonly search because some of them just want to gather information about crypto-related and some of them want to know if the market price of the coin is profitable and lastly is what is bitcoin and cryptocurrency all about.

I'm interested in which bitcoin related sites you have bookmarked, because to me, getting a result related to bitcoin news from different ranked pages each time I search is unnerving. Just a handful of reputable sites is good enough, like a dozen or so. It's also possible that looking up some bitcoin terminology or discussion about a technical concept on google takes you to a site that has a bad credibility.

Agree, surely a lot of people are getting interested in this bitcoin event of bitcoin halving aside from curiosity people also need information about what really is going to happened in this event.

Also, this could have a big impact talking about the market price of bitcoin surely this event is rumor to be the key to a big increase in the bitcoin market price but could also be a big dump in the price.

Whenever the price of Bitcoin is going up or a huge event is approaching, the media starts talking about Bitcoin and that is what causes a lot of people to start searching for it on Google. I wouldn’t be surprised that so many people would start buying Bitcoin now due to the stories they have heard of it in the past. Things like this can cause an increase in the market.

Let us wait and see what happens after the next halving, I have this feeling that there is going to be a big increase starting from when the Halving occurs. The price has been moving up a bit and before you’d know it, it would reach a very high price.

But the point is, that these search result spikes rarely equate to anything good or profitable on bitcoin's end. Sure they become interested into bitcoin but you also have to take into account the amount of people that had really dove into the cryptocurrency industry after searching for bitcoin. That number is really low so ww can't really rely on search results to determine if bitcoin is blowing up or not. Or that's what happens at least with bitcoin. Now if this does equate to something, I highly believe this will just be like the bubble event in 2017 where as soon as people felt that the price won't go anywhere, they start to jump ship and withdraw their investments which greatly disrupted bitcoin's progress. That's why these search results rarely equate to something good or profitable for bitcoin.

Well, if one thing gets famous I am sure it will be trending in searches as some people will definitely get curious about the situation just like what happened to Bitcoin 2-3 years ago. When BTC went ATH, altcoins are affected too. I think this is one form of BTC awareness. The more people get their interest in Bitcoin, the more it becomes popular and who knows if stays as popular as it is there'll be more people and establishments that are going to use the service.

Bitcoins price is the real reason why google search for bitcoin increased by a whopping 33%. Of course, whenever bitcoins price surpass some milestone like the $10k mark a lot of people will post updates about it and most of their followers will get curious about what is bitcoin. Especially in social media and the news or media in general, bitcoin makes headlines about its price which drives people to search about bitcoin.

I think this doesn't mean that there are a lot of people that is wanting to know more about bitcoin. These searches can't say who is using bitcoin and who is not using it. I am still searching bitcoin on google to find updates I can't see on the people I am following on social media and other pages.

Yes, the history will repeat again, and we will see people will search more about bitcoin, and that can make the search of bitcoin will increase too. With so many people find out about bitcoin, that can help bitcoin more popular and reach more people too. And when bitcoin become popular than now, people will use bitcoin, and there will be an increasing number of people who are trying to use bitcoin in their daily life.

It seems that people's interest in bitcoin is increasing. Those who used to ignore bitcoin are now eager to learn about bitcoin again. This is a good sign. There is another thing here as well. Bitcoin traders and Investors Search bitcoin to find the latest bitcoin news. Every day I do a lot of Google searches myself by writing Bitcoin. But it is good to see that people's interest in bitcoin is growing very well. 33% search result increase which is good.   

Yes and it is only natural,

This sudden increase in price of bitcoin which is unexpected to everyone gets the attention of a lot of people (crypto and non-crypto user). As what you have said, a lot of people sharing this sudden increase in social media, including I is actually sharing updates about its price, so many of my friends are also asking about what it is.

The growth that the market produce is the primary reason I think that people searched bitcoin recently on google. People is interested when a certain asset goes up, People might be heard the news on articles that are produced almost every day about bitcoin. And we crypto users cannot deny that we are searching bitcoin recently because we are finding news about it. But it's good and nothing to worry about since the more people are searching about is the more they are feeding their knowledge about bitcoin and it is good for the aspiring users and the current users.

This is because the price is bitcoin is steadily increasing and a 37% increase of bitcoin price in less than two months is surprisingly unexpected and other are very excited for it as it is the best chance to change the market from bear into bull.

The hype is very sharp because of the upcoming halving and the searches goes that high because of this reason. Bitcoin still dominating other currencies and believe me or not, the prices of other currencies are very dependent to bitcoin.

Whenever the price goes up it will attract attention from investors that is why we can see searches spike because more and more people are intrigued by how the price is doing and potential investors who plan to invest in bitcoin are now checking how the upcoming halving to the current market trend. Aside from that, it is only an evidence that more and more people are now drawn to bitcoin and it is only a matter of time that most people will adopt bitcoin.

Good to see that there are many people are interested in the bitcoin but not all the people who already searching bitcoin are interested only some of them and the others of that is only curious about bitcoin.

Im not shock because of that because people are always doing that because they research a thing once it's popular or famous just like bitcoin.

This indicates that bitcoin is increasingly popular throughout the world, we can also prove that every day the number of information seekers about bitcoin is increasing, I think it will increase even more when it is approaching halving.

This can be one of the positive information that bitcoin will gradually be able to respond to what we need in addition to using the FIAT currency and can be one thing that is very beneficial when we are a traveler because they do not need to charge money to be able to get money from the country that we are aiming for when the country has truly legalized bitcoin in the future

I think those people are only new to the crypto industry, I mean those who are potential investors who want to try to invest in this ongoing uptrend. Of course, they need to arm themself with some information on what is going on, on what they should know about the incoming BTC halving. Since we're talking about money here, there's no surprise why more people are becoming attracted to the current state of the crypto market. expect more people to search those keywords because we are getting close to what we are expecting and that is the Bitcoin halving.

Most of them should be from the investor who are checking each and every move second by second , waiting for the right moment , increasing the number of searches doesn't matter what matters is the number of new people who are searching , I do think if it's 33% then around 10-11% are the New people who are leaning about Bitcoins now because the price is getting amazing and people are seeing how profitable it is gonna be in the future.

This is definitely an indication of the interest of new money or potential investors in Bitcoin and the cryprocireenxy market in general.  As prices continue to rally, the interest of people can only increase because the profit potential that exists within the cryprocurrency space is unreal.  The price of BTC is already up over 30% YTD.

I don't necessarily think there is a true correlation between the number of Google searches for X and the price action for X.

Just because more people know about Bitcoin, this would inevitably lead to more searches.

You'll also find that a huge number of people also search for Bitcoin during the biggest dips and crashes, hence why the usefulness of the metric is pretty much moot.

Since it only predicts either a pump or a crash.

New update here :

The google search of bitcoin exploded again in google in the past week according to data from Google Trends, Even the market of bitcoin experience a big dump.

https://i.imgur.com/E2WUGkF.png

I've got online winget on my wallet. Kinda works better that googling it

So can we say right now that there are no correlation as far as bitcoin prices and google searches now? Because as you have said, we have a dump but the searches continue to soar? Or is this just an isolated case?

Every day people get to ask me the future of bitcoin, I just tell them it's alive and doing well, their response will be we thought the TV news said it has crashed in price, I will just give them a quick bitcoin price conversion site and tell them to monitor it in 1 month and differentiate between the media reportage. People are been feed wrong info about bitcoin by the media, they have now turned to google for help.

I think financial specialists and swing brokers who are continually observing costs likewise added to the expanded level of Google look. Likewise, individuals who aren't Bitcoin adherents and are trying to ascertain how they will get current value slants and adapt.

Unquestionably, when the worth drops significantly its effect, it'll keep it up ascending until one year from now. :)

To be honest, I'm not any surprised about this. Because, I have been saying that within this period, people will get to know more about bitcoin (even tho they refuse to invest). Cool.... Huh? We'll, the main issue is that they results they find on their searches could be negative. It could convey something that isn't true about bitcoin. So, it's not just about that increase, it's about what they saw, learnt, and believe.