[2014-08-09] How Google and Twitter move the market for bitcoin

[zakoliverz]

https://gigaom.com/2014/08/08/this-week-in-bitcoin-how-google-and-twitter-move-the-market-for-bitcoin/

Anyone who has followed bitcoin over the last three years knows that its price is an ad nauseum repeat of price spikes followed by mini crashes. Some of them have been triggered by external stimuli, like MtGox being hacked in 2011 before it ultimately met its demise this past March. The cycle — more like a roller coaster — of bitcoin price movements is becoming an interesting research topic for academics.

[Kprawn]

This has been debated to death in other threads about this.

It's stupid to base your assumptions on this, and think you can predict a price spike or drop.

There are too many variables effecting the price, to base it on this type of info. Just accept that market forces like demand and supply the price of anything.

[Mr Tea]

Yeh just seems like speculation really. I'm sure when the price rises or falls that will have an effect on people tweeting or googling about it though which will have a knock on effect.