Bitcoin Surpassed The “Stocks” Search Term (Google Trends)
There are many things happening daily worldwide. As we are part of the cryptocurrency world, what we want to know is if there is any trends that can change the course of any crypto, more specifically bitcoin. What I am going to touch upon in today’s article is what has happened with the Google Trends chart and bitcoin’s movement there in terms of search results.
This is a free tool by Google, that gives us the opportunity to know what people have used Google for in terms of search. What has more searches than the other? I have been using Google Trends for many years now as a side tool to check if some given information is true or not. Or at least, it was giving me a back-up “opinion”.
What you can do is look for a search term like “bitcoin”, choose a location or leave it as World Wide and see what you will get as a result. Depending on your selected filters you will have broader or more detailed results.
Bitcoin’s Life on Google Trends
Let me be quick in saying that this is not financial advice and I am not telling you what to do in any way to invest or not. Those are my thoughts, my vision and what you do with your capital is YOUR responsibility.
We can’t say Google is tracking what is going on with bitcoin, not at all. In fact, Google Trends shows only certain keyword and how many times for a given period of time has been used. It is compared with another search term which gives us the graphs. And from the maths, you know that the maximum of a few elements is determined by the element who is higher, not a random number.
So said, if we have A, B and C respectively 60, 70, 80 and whenever we use Google Trends to seek for results, result C will be given to us as 100 percent of the search term, the top. It seems like there is no way to get better results, but that’s not true. Compared to these 3, C is the trender.
In my case, I am comparing Bitcoin to the Stock Market. You can see as of date 14 of August 2019, what I got as a result:
As you can see, bitcoin was always a search term used by more people. What is the reason? There could so many, and also so many theories, conspiracies and etc. But I am not here about this, but more to give you a insight of a tool that you can use for side-kick analysis.
What is repeated on the Graph?
Okay, before I begin starting to express what I saw, let’s look closely at this screenshot:
What I am basically seeing is that before the rush 2017 and prices hitting their highest, there is a trend of bitcoin’s search going up, which was also happening in a time when the prices were going up. Yes, I understand that when prices go up more people are lured in and they start looking for answers, therefore Google Trends shows rising graphs, but look at #3. It is kind of what has happened in 2017. The graphs start to rise and go up.
What do you think, could we have a repeat of the 2017 rush?
What do people think?
I am reading a lot about people’s opinion these days. What I have found out that is a little bit frustrating is that people tend to hate more. I guess part of them were expecting to be rich already. Others lost some money, and also there is a third portion of people who are more neutral and they are just waiting for the right moment. Or maybe some of them are even just lurkers. Not into bitcoin, don’t own any, or don’t plan to invest in them.
It is a fact that whenever someone comes up with something that would help or not or just an idea of what could be, what could happen, there are many opinions. Many theories that literally destroy the idea. But also there are some good points of why it could actually be right.
Again, we are not judges, we at iCE3X just try to give you the raw information without really sharing our opinion and YOU are the one who decides what to do. You are the one who does whatever you please with your money. Even after this piece of information, do again your research. Think twice or thrice and then make a decision.
Here are a few thoughts for you:
On the other hand, there are people who also want to protect their personal space:
And here is really nice advice by SuperTA:
We do not know what the future will bring, that’s an uncertain thing. But what we can do is analyze, think and similarly in everything we do, we can decide for ourselves whether the risks are worth it.
So, what do you think, do you believe in Google Trends? What else do you use as an information source to give you a deeper idea of what steps to take for a brighter future?