• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

Google Trends Data Suggests Bitcoin Price May Have Bottomed Out

Allen Scott by Allen Scott
4 years ago
in Bitcoin, Bitcoin Price, News, News teaser
0

The latest Google Trends data suggests that the downward trend in Bitcoin price may have found a bottom and could be reversing to the upside. 


Google Trends: A Harbinger for Bitcoin Price?

Bitcoin price hit its all time high in mid-December, touching $20,000 USD. Thus, it will come as no surprise that the amount of people searching for ‘Bitcoin’ on Google also peaked at the exact same time.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Trends data is an anonymous, categorized, and unbiased sample of Google search data. It tracks trillions of searches per year ,  making it one of the most useful, real-time data indicators of human interest by region and category.

Google

In fact, the term “Bitcoin” was the second most popular search for global news in 2017. Interestingly, last January’s data indicated that the cryptocurrency was due for a major breakout for the year.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

The harbinger was correct, albeit a short dry-spell in the first two months (similar to what we’re seeing right now). 

The Trends 2013 record was broken in May of last year, which was the exact time when Bitcoin price began its parabolic climb to new all-time highs in December.

Out of the Bear-Ridden Woods?

We’re currently seeing a repeat of what happened in the beginning of last year. The Trends chart shows a reversal to the uptrend for interest in Bitcoin for February.

Google Trends

Comparing the above chart to Bitcoin price, which likewise reversed 40% from around $6,000 USD, and the resemblance is striking. 

So, if you believe that price follows interest, and therefore, more buyers and greater volume, there’s a good probability that Bitcoin could test new all-time highs in the next few months as some market analysts have predicted.

“I think we will have Regulators stirring up the marketplace several times a week for the next two months until the SEC comes out with a direction and institutions are starting to invest,” David Drake, Chairman of LDJ Capital, told Bitcoinist in an interview last week.

“At that point, prices will go off and I think that’s going to happen around March and April,” he added.

Besides lower fees and strengthening fundamentals due to some promising upgrades (e.g. Lightning Network) expected this year, another bullish factor to consider is that the recent sell-off has shaken out the so-called weak hands. Indeed, the January correction may have restored some much-needed balance to a red hot cryptocurrency market.

Now, an influx of capital from long-term holders (or HODLers) and believers in the technology, as opposed to FOMO-driven speculators, could serve as a launchpad towards new all-time highs.

Is the bear trends broken? Will Bitcoin price see new highs in 2018? Share your thoughts below!


Images courtesy of Shutterstock, Google Trends

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Allen Scott

Allen Scott

Allen is the editor-in-chief at Bitcoinist.com. He has a background in journalism and economics and had his Bitcoin "Aha!" moment in 2013. He has interviewed some of the most prominent experts, entrepreneurs and thought-leaders within the cryptocurrency space. Send your leads, tips or interview requests to: [email protected]

Related Posts

Bitcoin Trading Volume Sinks Down Almost 60% In 9 Days

Bitcoin Trading Volume Sinks Down Almost 60% In 9 Days

13 mins ago
North Korean Hackers

North Korean Hackers Suspected Of Perpetrating $100 Million Harmony Attack

6 hours ago
Oslo Freedom Forum, Fode Diop on stage

3 Lessons From The Oslo Freedom Forum: Why BTC? Nabourema, Likhachevskiy, Diop

13 hours ago
National Agency of Prospective Projects (NAPP) In Uzbekistan Green Lights BTC Miners

National Agency of Prospective Projects (NAPP) In Uzbekistan Green Lights BTC Miners

19 hours ago
Short bitcoin

ProShares Short ETF Becomes Second-Largest Bitcoin Fund In Record Time

20 hours ago
bitcoin etf sec iStock-1087330672

Why The SEC Will Reject Grayscale’s Bitcoin Linked Spot ETF

21 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.