Changes in the bitcoin price predictions with google trends.

ifinta

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Quote from: TravelMug on April 07, 2019, 11:31:59 AM

For obvious reasons, when the price of bitcoin is going up, a lot of people are interested so they go to Google and search about it. So I think that's the logical explanation, imho.

But to say that investors will go to Google trends and make their decisions based on that is completely wrong. Maybe newbie investors will likely believe in this, but smart investors knows the game very well.

Yes. This is important. Many many newbies coming before a hype..

Adriano2010

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Maybe yes, and also people will buy more if they see good news amd holders will still hold what they have, today i read a lot of good news on google search and most say that bitcoin will reach over 50,000$.

playboy654

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No one can say the right prediction in all the time so we need to take it otherwise it will definitely be helpful for the future investment but the decision maker is always you because the prediction will not work with the Crypto investment and you can do what you think will be that satisfying thing for everyone.

Oceat

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Quote from: TravelMug on April 07, 2019, 11:31:59 AM

For obvious reasons, when the price of bitcoin is going up, a lot of people are interested so they go to Google and search about it. So I think that's the logical explanation, imho.

But to say that investors will go to Google trends and make their decisions based on that is completely wrong. Maybe newbie investors will likely believe in this, but smart investors knows the game very well.

Well, this is just according to the majority of most searches using google but what about to those who surf anonymously? Although we can't deny the fact that Google is the most common search engines for people who do need to find a good result with just one press of that enter button.

Google searches may not be a good sign to rely on all of our hopes in the future since no one could ever tell what would be the future.

whirlcoin

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Quote from: ifinta on April 01, 2019, 10:23:51 PM

I see, it exists alredy a changes of the behavior of google trends...
1.) The price falled in November 2018 AND the people wanted to know - Why?
2.) If the interesting falling (google trends lowers), some (big) investors trying to buy a big chunk - it results in a slowly deflation

the Bitcoin price will not depends on any other thing the only thing is the demand and factor but the investment was reduced in Bitcoin due to the prediction by some other like this will definitely affect the Bitcoin to be developed and it made the investment are very low.

TravelMug

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For obvious reasons, when the price of bitcoin is going up, a lot of people are interested so they go to Google and search about it. So I think that's the logical explanation, imho.

But to say that investors will go to Google trends and make their decisions based on that is completely wrong. Maybe newbie investors will likely believe in this, but smart investors knows the game very well.

ifinta

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Quote from: ifinta on April 07, 2019, 10:49:56 AM

https://de.cointelegraph.com/news/dutch-central-bank-advisor-bitcoin-price-changes-with-google-search-activity

in english:

https://cointelegraph.com/news/dutch-central-bank-advisor-bitcoin-price-changes-with-google-search-activity

ifinta

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https://de.cointelegraph.com/news/dutch-central-bank-advisor-bitcoin-price-changes-with-google-search-activity

Yamifoud

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Quote from: andriarto on April 04, 2019, 03:00:15 AM

Quote from: jakelyson on April 02, 2019, 11:00:18 PM

There is a correlation between the bitcoin price movement and google trends. But you cannot use that to predict the future price because it works backward. By the time google trend shows up, the price has already peaked and you will be riding a downtrend already.

right, google trends like a conclusion of price movements. but this can be used as a reference to find out the trends that occur, so many say that the exit before the hill is formed, of course we have to sell it before the price is at the peak

We are not particularly be using Google trend, as mostly we look on the marketcap to see prices movements. They'll never good with using Google trend and so they just ignored this thing.
That slope happen after the peak is maybe just because many crypto holder's sell their coins and even set the price below the market demand, this will results into falling of price

arifteguhr

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Quote from: alisafidel58 on April 02, 2019, 01:55:18 AM

Quote from: ifinta on April 01, 2019, 10:23:51 PM

2.) If the interesting falling (google trends lowers), some (big) investors trying to buy a big chunk - it results in a slowly deflation

Google Trends is a website by Google that analyzes the popularity of top search queries in Google Search across various regions and languages.

Source : Google

Traders and other people don't use the google trend to buy bitcoin especially the whales. They have their own market chart that they follow. Google trends is nothing but a search engine its chart means nothing to the crypto world.

it's very true that most people use graphics on their own markets so it won't be possible for people to predict the price of bitcoin with trends on Google

Kasabus

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I will not be surprise that google trends will rise going forward.
Based on the news, there's a total of 20,000 BTC bought which lead to increase in price and it will not reflect in google trends.
As the bull run continues, maybe it will reflect in google trend especially when FOMO is alive.

andriarto

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Quote from: jakelyson on April 02, 2019, 11:00:18 PM

There is a correlation between the bitcoin price movement and google trends. But you cannot use that to predict the future price because it works backward. By the time google trend shows up, the price has already peaked and you will be riding a downtrend already.

right, google trends like a conclusion of price movements. but this can be used as a reference to find out the trends that occur, so many say that the exit before the hill is formed, of course we have to sell it before the price is at the peak

Naida_BR

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I think that these two google trend cannot be blamed for an increase in the bitcoin price.
There is a correlation between them from the point of the hype that it is created (people would search for bitcoin when they are interested) but that doesn't mean that all the people who search for the keyword "bitcoin" are investors and they want to buy.

jakelyson

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There is a correlation between the bitcoin price movement and google trends. But you cannot use that to predict the future price because it works backward. By the time google trend shows up, the price has already peaked and you will be riding a downtrend already.

rizkyhiw

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Maybe everything can be predicted and it turns out it's true that it's a coincidence, there's no accurate analysis after some time to come, the Google trend isn't working well for me because everyone knows that the Bitcoin market is very unpredictable, thinking and having challenges in getting fortunately, exploiting but a little cautious the risk is always there and indeed the trend of Google is only collecting data from the latest market data and for me I will not be able to determine the price for the future by Google's own trend.

traderethereum

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It's sound weird to see that google trends will be works for bitcoin price because I don't think that google trends can be a clue for us to find the bitcoin price trend. Google trends show to us about what people search for the most things that they want to know, and it always changes in second, but I don't know if it's related to bitcoin price.

dothebeats

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Google Trends is affected by price surges, not the other way around. You can't solely rely on Google Trends results and expect something out of those lines to affect the market movements. You might have seen the correlation between the two on those charts that you have posted, but again, as soon as the price drops, people's interest in bitcoin will also wane, thus Google Trends chart following the trend of the current market.

Oh and if you have posted this on TradingView, people will fail to see what kind of analysis you have put forth, no matter how hard the effort was.

ifinta

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Quote from: alyssa85 on April 02, 2019, 09:58:06 AM

Quote from: Theb on April 02, 2019, 12:25:59 AM

Quote from: https://www.tradingview.com/chart/BTCUSD/z31eTi8R-Changes-in-the-bitcoin-price-predictions-with-google-trends/

If the interesting falling ( google trends lowers), some (big) investors trying to buy a big chunk - it results in a slowly (!!!) deflation...

What are you even trying to say here? That whales suddenly buy when they see that the Google trend for BTC is going down? You are lucky that you aren't popular in tradingview because the comments have eaten you alive by now. Like what I have said before Google Trends which is based on search results in their search engine cannot be use in Technical Analysis as it's just a number of searches in Google, it doesn't predict any kind of demand for Bitcoin in the market. A good example here is Gold we all know that Gold is steadily rising but the two trends related to Gold shows the irrelevance of its charts.

He's not talking about whales. He's talking about noobs.

Noobs google bitcoin to learn about it, and then sign up with an exchange to purchase. If there are a lot of them onboarding, then the price sometimes surges.

Many thanks for you

precisely...

alyssa85

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Quote from: Theb on April 02, 2019, 12:25:59 AM

Quote from: https://www.tradingview.com/chart/BTCUSD/z31eTi8R-Changes-in-the-bitcoin-price-predictions-with-google-trends/

If the interesting falling ( google trends lowers), some (big) investors trying to buy a big chunk - it results in a slowly (!!!) deflation...

What are you even trying to say here? That whales suddenly buy when they see that the Google trend for BTC is going down? You are lucky that you aren't popular in tradingview because the comments have eaten you alive by now. Like what I have said before Google Trends which is based on search results in their search engine cannot be use in Technical Analysis as it's just a number of searches in Google, it doesn't predict any kind of demand for Bitcoin in the market. A good example here is Gold we all know that Gold is steadily rising but the two trends related to Gold shows the irrelevance of its charts.

He's not talking about whales. He's talking about noobs.

Noobs google bitcoin to learn about it, and then sign up with an exchange to purchase. If there are a lot of them onboarding, then the price sometimes surges.

Kemarit

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As a investors, I don't think there is a connection whatsoever that will make you buy or sell bitcoin because of Google trends (up/down). It's just a coincidence what you are seeing in the graph, as investors used TA to influence them to buy more bitcoin. Heck, there was even a study that Sentiment analyst predicts Bitcoin price using Bitcointalk forum posts.

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