Google Trends Shows Interest In Bitcoin
Story by: Clem Chambers
If you are a bitcoin Bull you are waiting for the crash to play itself out and for the next boom cycle to begin.
Without question, bitcoin and cryptocurrency has been a lightning rod of interest for millions of people. When famous financial figures are interviewed they are always asked about what they think of bitcoin. With bitcoin having a similar value to any number of big U.S.-listed companies that is like every finance and corporate press conference having several questions from the floor inquiring about Disney stock. This would be considered very weird but for bitcoin it is considered normal.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
Bitcoin has massive brand clout. For whatever reason, the world is fascinated by it. Nothing makes that more clear than the following Google trends graph:
Google Trends shows interest in Bitcoin compared to Trump, Taylor Swift and the stock marketCREDIT: GOOGLE
Interestingly, Google media and, by implication, media interest tightly correlates to the price of bitcoin. If people lose interest, then the price will fall and the naysayers will win out. Before we think the chart shows this, bear in mind that the green line is the stock market and one of the biggest popstars on earth is the yellow line.
As an aside, interest in the stock market goes up when stocks slump but the opposite is currently true for cryptocurrency. This suggests to me that stocks are driven by fear and crypto by greed, a tantalizing idea in its own right. Behind this dichotomy is that the old own stocks and the young own crypto, and the old are fearful and the young are fearless and full of hope, a condition which can be summated into a kind of greediness.
Original story: https://tinyurl.com/yccjfmde
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