Exploring The Correlation Between Bitcoin Price And Google Search Trends – Nasdaq

There is evidence from Google Trends to suggest that internet searches for Bitcoin price can help predict major market movements to the upside.

In 2017, Semrush, a search engine marketing agency, reported that bitcoin prices had a 91% correlation with the volume of Bitcoin-related Google searches. This means that the price of bitcoin rose and fell in lockstep with the number of Bitcoin-related searches.

While the Semrush study showed that the search volume increased as the price of bitcoin grew, it did not say whether the searches predicted the exchange rate between bitcoin and the dollar. Bitcoin searches increased 450% in the five months between April and September. The estimated volume of Bitcoin-related search keywords in one year totaled 51.4 million.

Correlation Between Bitcoin Searches And Price

The most common assumption is that searches increase when the bitcoin price increases. In other words, people’s interest follows price growth. While this is not entirely wrong, data…

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source: https://news.oneseocompany.com/2022/03/26/exploring-the-correlation-between-bitcoin-price-and-google-search-trends-nasdaq_2022032616837.html

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