Bitcoin and "Google Trends" indicator

[cryptovlek 2597]

For Bitcoin macro trend there is one indicator that is used by many analysts to find the retail interest. It is the google trends, an analytic part of Google that gives us estimates and the trend on google searches on anything you write. I found that people use it with words like Bitcoin, or even better works with the phrase: Buy Bitcoin, that is exactly what we need to know. Which is how many people are looking in google to find how they can buy Bitcoin.

 

What I do is search for the string "Buy Bitcoin", use the Worldwide option and the Past 5 years as time selected and get this result:

As we see in 2017 the rise of Bitcoin reached heights of interest never seen again. This was what people call FOMO. 

 

Today price is again close to $18,000 and this indicator for the public interest in Bitcoin is still a very low line. What this means is that there is a rising indicator of increasing search on Bitcoin but it is still very low. This is another reason I have big hopes for the next year.

When FOMO kicks in we will be ready for signs of a possible top but for me it is still very early.

 

[Amrutha 4]

Simply put, Google trends is a great way to track the growth of active Bitcoins users , the search 'BTC USD ' Serves as a proxy for the engagement of active Bitcoin users as they put together , Google trends is a pretty reliable buy and we'll indicator

[cryptovlek 2597]

 

On 11/21/2020 at 9:13 AM, Amrutha said:

Simply put, Google trends is a great way to track the growth of active Bitcoins users , the search 'BTC USD ' Serves as a proxy for the engagement of active Bitcoin users as they put together , Google trends is a pretty reliable buy and we'll indicator

I think that this indicator will rise as soon as Bitcoin makes a new all time high. It will be then when many people will find from the news they are reading about Bitcoin. I still hold and avoid any other crypto right now that Bitcoin dominance dropped a lot with a big rise of XRP and Ethereum. It is worth to keep an eye.

Edited November 24, 2020 by cryptovlek

[cryptovlek 2597]

On 11/25/2020 at 11:28 AM, Shilii3 said:

I still don't understand what the difference is between Bitcoin and Google. I don't think it's ever going to be right.

Google Trends is a tool that is giving information for searches on a specific word or words. People search all day in google and sometimes a word will be trending. Google records all your searches and does analysis. It is all stored by google and everything is connected by alaysis. What I explained is that we can find if Bitcoin is trending in google searches and this can mean interest from many people to buy Bitcoin.

[yonkii 3205]

Thanks a lot @cryptovlek for this. I had no idea about google trends and it seems that this is a great indicator to know. I looked and the interest seem to be rising although it needs to be looked in a large scale because google says it needs time to give good results for the last few days and only provides an estimate. It is good idea that you found and thanks for giving it to us.

[zhoutong 2188]

I am looking sometimes at this indicator just to notice if there is some major change in the numbers of people that want to learn about Bitcoin. It gives us a good picture of what is happening. I think that the trend in this indicator will change once Bitcoin reaches a new all time high. This will be a headline news.

[kryptonick 2659]

On 11/20/2020 at 11:07 AM, cryptovlek said:

As we see in 2017 the rise of Bitcoin reached heights of interest never seen again. This was what people call FOMO. 

2017 was crazy actually. I don't know if you were trading or invested during that time but it was nothing compared to now. This is the reason I think that 2021 can be better. I have more indicators except this that I expect to happen if Bitcoin makes a new all time high.

• Mainstream media to start getting interested
• New Youtubers to appear
• Bitcoin to make a 30% correction after a new all time high
• New songs, memes, funny and inspirational video on youtube
• Later, to prolongue the bull run, one or two new forks for Bitcoin

[cryptovlek 2597]

13 hours ago, kryptonick said:

2017 was crazy actually. I don't know if you were trading or invested during that time but it was nothing compared to now. This is the reason I think that 2021 can be better. I have more indicators except this that I expect to happen if Bitcoin makes a new all time high.

• Mainstream media to start getting interested
• New Youtubers to appear
• Bitcoin to make a 30% correction after a new all time high
• New songs, memes, funny and inspirational video on youtube
• Later, to prolongue the bull run, one or two new forks for Bitcoin

  I started in 2019 with the previous mini bull run that was stopped at $14,000 for Bitcoin but I never left. I don't know how 2017 was because I have not lived it inside the cryptocurrency community but I remember Bitcoin being in the news for a while and everyone was discussing. It was the year everyone learned about Bitcoin and I hope we will have a good time all of us as this that people in 2017 had.

[Sykkuno 2887]

I look at this indicator too, although haven't done that in a while, it is slow to update and it is not to be tied to a bot or to be the perfect indicator, but what it does is to show the general public sentiment as people when they will find Bitcoin they will start googling to find where they can buy it.

[Fixfin 2569]

This indicator explains a lot about the people that suddenly find Bitcoin from the news and want to learn more about it. Once Bitcoin does something that is a milestone achievement like reaching the price of gold or reaching a high psychological level then it becomes top news. And people suddenly are interested. This is an indicator that measures this interest and you can call it fomo indicator of course.

[annayks 2314]

This is not actually an indicator but it gives a point when more people are looking in google about some certain words so it can be help but it is not to be used for trading. Maybe some bots will be spamming it and create artificial growth too, but I don't know how google takes this data, it needs some research about that.

[cryptovlek 2597]

The "buy bitcoin" google trend indicator is taking off worldwide. Bitcoin is growing into mainstream interest and I expect the price to keep rising and it can grow very fast from here. What I expect is the next three to six months for retail to jump in Bitcoin. We will see, I saw some more discussion on Bitcoin and it is to be expected that prices will keep rising.

Global:

For USA:

[Abdulrahman3 1252]

The increase in the price of the currency is what leads to its spread more and not the other way around, but the ads that many currencies and platforms use to spread their currency lead to the spread of the currency in the opposite way, in other words that the customer reads the information in the advertisement for the first time, and he has no preconceived idea about the topic, This is called the simple client.

[cryptovlek 2597]

This time the "buy bitcoin" worldwide trend seems to have retraced a little. It doesn't contain the last few days, so I think that with the recent interest coming from Elon Musk advertising in Twitter, it will bounce from that low and perhaps create more bullish terms. It needs around a week to be validated.

 

[abohasnn9 2401]

My friend, for me, I stay informed about the Google trend and the Telegram trend in general because I trust them completely and I personally use a Bitcoin calculator or any other cryptocurrency in the Google search engine. It is special. Thank you very much.

[percare 3192]

I remember reading about Google trends, but there is a problem with this one. You will not be able to find when the trend changes, as Google will not give accurate daily data, but probably data from days before, perhaps even a week.