How Reliable Is Using Search Engines to Forecast Crypto Returns … – Cryptopolitan

Search engines, such as Google, have been used by researchers to forecast cryptocurrency returns and trading volume. This is because search engine data can provide insights into investor sentiment and interest in cryptocurrencies, which can then predict future market trends.

One common approach is to use Google Trends data, which shows the relative frequency of searches for a particular keyword over time. Researchers have found that increases in Google searches for certain cryptocurrency-related keywords, such as “Bitcoin price” or “cryptocurrency trading,” are often followed by increases in trading volume and higher returns in the cryptocurrency market.

For example, a study published in 2018 found that Google Trends data could predict Bitcoin returns with high accuracy. The researchers found that an increase in Google searches for “Bitcoin price” was associated with a subsequent increase in Bitcoin returns over the following two weeks.

Another study published in 2021 analyzed the…

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