Topic: This rally could have been predicted by using Google Trends. (Read 1485 times)
All the crystal ball gazers were too busy predicting a further decline to even think about the possibility of a rally
fell on the 4th and fell significantly on the 5th:
http://bitcoincharts.com/charts/mtgoxUSD#rg30zczsg2011-07-04zeg2011-07-06zvztgSzm1g10zm2g25
http://bitcoincharts.com/charts/mtgoxUSD#rg30zczsg2011-07-04zeg2011-07-06zvztgSzm1g10zm2g25
You selected July, not August.
August 3rd: Search volume goes up (as price happens to fall)
August 4th: Price rises (as search volume happens to fall)
Again, the day after higher search volume, the market seems to have reacted.
This would also have made you buy on Aug 03, losing money.
This is a search volume graph, not a financial graph. The market lags a day behind heavy news and search traffic. Price may shoot up on a day that search volume falls. Do you have historical daily prices saved somewhere? I do not recall if btc price fell significantly on the 4th.
fell on the 4th and fell significantly on the 5th:
http://bitcoincharts.com/charts/mtgoxUSD#rg30zczsg2011-07-04zeg2011-07-06zvztgSzm1g10zm2g25
It's not exactly easy to extract dates from these charts: http://bitcoincharts.com/charts/mtgoxUSD#rg5zig5-minzvztgSzbgBza1gWMAzm1g2za2gWMAzm2g5zxzi1gVolzi2gUO
This would also have made you buy on Aug 03, losing money.
This is a search volume graph, not a financial graph. The market lags a day behind heavy news and search traffic. Price may shoot up on a day that search volume falls. Do you have historical daily prices saved somewhere? I do not recall if btc price fell significantly on the 4th.
This would also have made you buy on Aug 03, losing money.
1. Buy some bitcoins.
2. Do something newsworthy so that Google Trends will rise.
3. Sell bitcoins.
4. Profit!
2. Do something newsworthy so that Google Trends will rise.
3. Sell bitcoins.
4. Profit!
The markets tend to go up the day after heavy news and search traffic. I had noticed a week-long trend of increased searches but the market had been staying even, so it was to be expected that it would make a strong move. If you were following search trends during the last couple of weeks where price was very stable but drained a few cents every day, search volume for bitcoin was remarkably flat.
http://www.google.com/trends?q=bitcoin&ctab=0&geo=all&date=mtd&sort=0
http://www.google.com/trends?q=bitcoin&ctab=0&geo=all&date=mtd&sort=0
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