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Author Topic: [2018-08-02] Google Trends Shows Interest In Bitcoin  (Read 36 times)
vy99
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August 03, 2018, 07:18:16 PM
 #1

A very interesting look at the interest in Bitcoin and the effects on the price based on Google Trends analytics:

https://www.forbes.com/sites/investor/2018/08/02/google-trends-shows-interest-in-bitcoin/#7e57e66e272b

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hatshepsut93
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August 05, 2018, 05:06:24 PM
 #2

The article is full of misconceptions.

Quote
If people lose interest, then the price will fall and the naysayers will win out.

No, it's the opposite, when the price drops, people, especially those who were just observing, lose interest. And on the contrary, when Bitcoin price rises, mainstream media start covering it, making more outsiders google it.

Quote
There is the obligatory ‘trouble in the Middle East’ to keep bitcoin jumping

Middle East or any other regional events have no effect on Bitcoin's price, it's just a myth.

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Google trends will show it kicking off if that starts to come about.

Google trends boost comes after the price rise, not before.

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August 05, 2018, 06:35:54 PM
 #3

Google trends boost comes after the price rise, not before.

How do we know for sure?

I wouldn't trust Google Trends to not be distorted in various ways. The graphs and figures we get from Google Trends are not verified, we simply trust that Google are providing the correct numbers.

As ever, what's in it for Google to give the public free information services?

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August 05, 2018, 07:13:20 PM
 #4

Google trends boost comes after the price rise, not before.

How do we know for sure?
It's impossible to know for sure, but it does make sense. Price increase -> mainstream media -> average joe -> action.

As ever, what's in it for Google to give the public free information services?
Google could potentially get paid by x entity to artificially inflate or deflate publicly accessible (free) information. It totally wouldn't surprise me and it may even be happening already. They can make it seem like no one is interested in crypto right now, just to accumulate as many coin as possible, to later inflate Google Trends and initiate a bull run to dump their bags on dumb money.

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August 05, 2018, 07:22:32 PM
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I have posted the chart which shown by them.First of all i was amazed on how people do consistently Trump search term .lol
I dont see that this is an interest but rather they do shows off on how speculative the market of bitcoin. They are just trying to compare stocks and btc itself and as expected people comes interested when they do saw shoot up of prices but later on when the price dumps then it will normally shows zero interest.

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Carlton Banks
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August 05, 2018, 07:28:16 PM
 #6

Google trends boost comes after the price rise, not before.

How do we know for sure?
It's impossible to know for sure, but it does make sense. Price increase -> mainstream media -> average joe -> action.

As ever, what's in it for Google to give the public free information services?
Google could potentially get paid by x entity to artificially inflate or deflate publicly accessible (free) information. It totally wouldn't surprise me and it may even be happening already. They can make it seem like no one is interested in crypto right now, just to accumulate as many coin as possible, to later inflate Google Trends and initiate a bull run to dump their bags on dumb money.

There is however a less sensational alternative: Google Trends is a loss leader, to create goodwill and trust in the Google brand. Which would be interesting in it's own right; why would Google need to make such efforts to have people trust them? (nothing about helping to correct a deficit in how trustworthy google are, of course Grin)

Still, I'd be very surprised if there'd never been corruption of Google Trends data for some kind of gain, just as could be expected from buying top positions in Google search results (I bet Google could make a real profit on that kind of shenanigans).

Vires in numeris
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