Google Searches of Bitcoin

[peter0425]

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.

[pooya87]

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  ) As you can see the trend was at ATH when BTC price was ATH as well at December 2017.

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!!!

[Meowth05]

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.

[Theo222]

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.

[traderethereum]

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.

[sunsilk]

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.

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.

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.

[davis196]

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.

[DdmrDdmr]

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 <…>

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

[Kemarit]

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.

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

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

[isaac_clarke22]

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".

[carlisle1]

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.

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.

[imstillthebest]

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.

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  .

[20kevin20]

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.

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.

[Lucius]

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.

[Debonaire217]

~snip~

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

[buwaytress]

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.

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.

[plvbob0070]

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.

[YOSHIE]

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

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.

[Artemis3]

Which could trigger price movement up or it won't .
You never know, if 33% is enough to make ripple effect or it needs 50-70%.

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.

And I think, they are in between now whether to buy before it pumps more or wait until it dips.

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.

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.

[julius caesar]

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

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.