BBC - Bitcoin price crashes linked to web search surges
http://www.bbc.co.uk/news/technology-28665262
http://www.bbc.co.uk/news/technology-28665262
Quote
A spike in searches for Bitcoins can be a good predictor of an imminent crash in its value, suggests research.
The conclusion emerged from a study of the web activity and social media chatter surrounding the virtual currency by Swiss computer scientists.
Their analysis of who was taking part in this activity helped to explain the meteoric rise in the value of bitcoins.
It might also offer insights into how online communities adapt and grow, suggested the research team.
The conclusion emerged from a study of the web activity and social media chatter surrounding the virtual currency by Swiss computer scientists.
Their analysis of who was taking part in this activity helped to explain the meteoric rise in the value of bitcoins.
It might also offer insights into how online communities adapt and grow, suggested the research team.
I fail to see how they making these assumtions.
In my view, when more people search for something on the web, it increase the awareness of that specific thing, and it should in theory thrive, if they found the correct information. If they think people found predominantly negative links and they were discouraged by that, to adopt BTC it would be more correct.
With Silkroad and MtGox a lot of negative press was thrown out there, but if people search for more recent information, they will find a lot of positve things.
