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Author Topic: Price vs. Google Trends Search Volume for "bitcoin" (2011-09-04 - Present)  (Read 1368 times)
infested999 (OP)
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June 23, 2014, 12:15:52 AM
Last edit: July 01, 2017, 11:20:01 AM by infested999
 #1

BitStamp Price History obtained from http://api.bitcoincharts.com/v1/csv/

Google Trends data obtained from trends.google.com



Donations appreciated:

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RyNinDaCleM
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June 23, 2014, 03:33:51 AM
 #2

It looks to me like those who know how to google search, already know about Bitcoin and don't care Tongue

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June 23, 2014, 03:48:04 AM
 #3

looks to me like another spike is coming
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June 23, 2014, 04:19:16 AM
 #4

looks to me like another spike is coming

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June 23, 2014, 06:41:31 AM
 #5

BitStamp Price History obtained from http://api.bitcoincharts.com/v1/csv/

Google Trends data obtained from trends.google.com



Donations appreciated: 1CJJXipY18D9F8aFQ8cDiXMRLgvbipBeTW

Care to present this on a log chart?
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June 23, 2014, 07:34:31 AM
 #6

+1 this request for log scaled version.

¯¯̿̿¯̿̿'̿̿̿̿̿̿̿'̿̿'̿̿̿̿̿'̿̿̿)͇̿̿)̿̿̿̿ '̿̿̿̿̿̿\̵͇̿̿\=(•̪̀●́)=o/̵͇̿̿/'̿̿ ̿ ̿̿

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June 23, 2014, 03:44:49 PM
 #7

Looks to me like price leads the google trends?
infested999 (OP)
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June 23, 2014, 03:50:06 PM
Last edit: June 23, 2014, 04:00:58 PM by infested999
 #8

Looks to me like price leads the google trends?

My analysis is that there is a cycle in price in crease like this.

Traders buy and price rises -> "Get rich quick" idiots search Google for "Bitcoin" -> 3 buisiness days later when their SEPA deposit clears there is a spike in price.

Don't look at it as the searc volume raising the price, look at the search volume raising the price on a 3-buisiness-day delay. So that spike on 2013-04-02 was actually the smaller one 3 days later. I'll do a more in depth analysis later.


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June 23, 2014, 03:54:39 PM
 #9

Looks to me like price leads the google trends?

My analysis is that there is a cycle in price in crease like this.

Traders buy and price rises -> "Get rich quick" idiots search Google for "Bitcoin" -> 3 buisiness days later when their SEPA deposit clears there is a spike in price.

Don't look at it as the searc volume raising the price, look at the search volume raising the price on a 3-buisiness-day delay. So that spike on 2013-04-02 was actually the smaller one 3 days later. I'll do a more in depth analysis later.

lol i just though exactly that by watching on the log chart

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June 23, 2014, 04:38:30 PM
 #10

Looks to me like price leads the google trends?

My analysis is that there is a cycle in price in crease like this.

Traders buy and price rises -> "Get rich quick" idiots search Google for "Bitcoin" -> 3 buisiness days later when their SEPA deposit clears there is a spike in price.

Don't look at it as the searc volume raising the price, look at the search volume raising the price on a 3-buisiness-day delay. So that spike on 2013-04-02 was actually the smaller one 3 days later. I'll do a more in depth analysis later.



It could also be that every bubble has had a "return to "normal"" sub-peak, and is unrelated to any such behavior of the "get rich quick".
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June 23, 2014, 04:42:25 PM
 #11

My analysis is that there is a cycle in price in crease like this. Traders buy and price rises -> "Get rich quick" idiots search Google for "Bitcoin" -> 3 buisiness days later when their SEPA deposit clears there is a spike in price.

That's not an analysis. That's a guess.

What is the correlation here, and at what confidence level?

My guess is much more simple: Interest follows price. Google Trends is a pretty good measure of general interest.
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June 23, 2014, 06:08:57 PM
 #12

Looks like a lagging indicator to me.
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