Google Trend and Volume Dropoffs

[joeykrug]

Anyone know what the volume dropoffs mean?  Looking at past few days there's been more volume on selloffs than on green candles http://bitcoincharts.com/charts/btcnCNY#rg60ztgSzm1g10zm2g25zv.  Also, the google trend for bitcoin has been decreasing recently, which also occurred right before the selloff in april... I still think we're due for a correction to around $500 then back up once the new money gets nervous and sells off.

[JimboToronto]

I still think we're due for a correction to around $500 then back up once the new money gets nervous and sells off.

That was last week.

[mvidetto]

Anyone know what the volume dropoffs mean?  Looking at past few days there's been more volume on selloffs than on green candles http://bitcoincharts.com/charts/btcnCNY#rg60ztgSzm1g10zm2g25zv.  Also, the google trend for bitcoin has been decreasing recently, which also occurred right before the selloff in april... I still think we're due for a correction to around $500 then back up once the new money gets nervous and sells off.

Not to mention there are more sells than bids on the order depth for $200 in either direction.  This generally points to a downtrend from all the things you mentioned.  It may be a short downtrend, but generally that information is negative.  Then again, bc of all the nubs in bitcoin now the price may just equalize.

[beaconpcguru]

China is shorting, why aren't you looking at the rest of the markets?  China is only the leader because of the 0% trading and thats why they are looking to the rest of the world to move the market.  I imagine there is a group of people that see the difference in markets as making money but China gov't can step in at any time and shut down those exchanges.. make no mistake.

[slikes]

China is only the leader because of the 0% trading and thats why they are looking to the rest of the world to move the market.

That's ridiculous.
http://www.forbes.com/sites/gordonchang/2013/11/24/a-china-triangle-bitcoin-baidu-and-beijing/

Two favorable mentions in state media ... signaled that Beijing is in favor of the use of the currency.  Moreover, on October 15 Baidu Jiasule, a firewall service for websites, announced it would accept Bitcoins.

http://www.cnbc.com/id/101200996

"There are two things affecting bitcoin in China," Linke Yang, co-founder and vice president of BTC China – the world's largest bitcoin exchange by volume – told CNBC on the sidelines of the conference.

"One is that there are a lot of [bitcoin] miners in China," Yang said, referring to those participating in the process of adding transaction records to bitcoin's public ledger and who can earn bitcoins for their efforts.

"The second is that, traditionally, high net-worth individuals and investors first go to the property market to invest and then the stock market, but since the property market is capped and controlled and stocks maybe aren't doing so well that's changing," Yang said. "After we had the China Central Television piece [on bitcoin in March] people here know about bitcoin and are putting their money into it."

[antoineph]

Can you not see how 0 transaction fee leads to many times higher volume? :O

[NUFCrichard]

How often do people here google bitcoin?
You google it to start with, and use links/bookmarks/autocomplete to go back to bitcoin sites.  It means new interest is waning, but not that interest in waning.