According to entrepreneur and journalist Clem chambers, who is called “light head” the stock market Google Trends statistics of search queries with the word “bitcoin” refers: black stripe for investors behind. But those who are waiting for further decline to purchase coins, this may disappoint.
Chambers, who recently wrote for Forbes, has collected interesting statistics in Google Trends: it turns out that information about bitcoin looking for much more than the President of the United States Donald trump or the singer Taylor swift. Chambers says:
Brand bitcoin gained popularity. For whatever reasons people like it.
Statistics Google Trends: bitcoin compared to trump, Taylor swift and the stock market (source: Google, Forbes, Clem chambers)
Chambers notes that interest in the exchanges usually begins to grow when the market is declining, but for bitcoin the opposite is true: the volume of queries grows in proportion to rising prices. Clem says:
From this I conclude that the driving force of the stock market is fear, and the crypto — greed.
Search activity around bitcoin grew parallel with the growth of this market. Data for the last four months confirm that the recent surge of interest correlate with the growth rates of the main currency.
Statistics Google Trends: bitcoin price from 1 April to 4 August 2018 (source: Google Trends)
It should be noted that Google does not display the number of requests as such. The number 100 corresponds to the maximum of the popularity of the term. So 50 means that the search query is half of the maximum.
Chambers believes that the statistics indicates the end of negative period, and had mixed feelings. He has already invested in bitcoin, but was hoping for further price reductions to the recession — less than $5000 to buy even more coins.
People invested in bitcoin at the peak in 2018, when it cost around $15,000 and higher ends of the black strip, naturally, should cause a sense of relief.
However, it is too early to clearly say that the situation is getting better. No wonder with the word “bitcoin” are often used (and looking for) the concept of “volatility”. Plus in recent days, the bitcoin price fell again, confirming the view of the pessimists.