It indicates that people are interested in buying Bitcoin. No matter how you look at it, the relationship between public interest and price is undeniable. There have been studies showing the correlation between Twitter posts and Wikipedia article views to Bitcoin's price. But Google search data is not the only source. There is an incredible amount of information one can obtain from Google’s Trends. With its unstable political situation and economy, 'Bitcoin' is the top query with 75% of the results. In South America, Venezuela presents an interesting case. In most western countries like the United States, the European Union, Canada, the United Kingdom and Australia, Bitcoin dominates user searches. They are building solutions to harness the power of decentralization and stand at the forefront of developing blockchain technologies.

Its no surprise that countries like Japan, South Korea, China and Russia lead the world in interest for 'Blockchain'. Using Google Trends we have tried to uncover the interest for the top two cryptocurrencies, Bitcoin and Ethereum, overall for Cryptocurrencies and for Blockchain technology, performing searches for 'Bitcoin', 'Ethereum', 'Blockchain' and 'Cryptocurrency'. Google trends also shows us the geographic origin of Bitcoin searches, with countries in Africa and Europe ranking in the top 10:īeyond prices, Google searches also indicate the pulse of an entire geographic region for crypto. Bitcoin's price can be predicted based on the number of Google searches for it, because the latter precedes the former, making Google search a key indicator for Bitcoin trading.īack in 2017, search engine marketing firm SEMRush found that Bitcoin's price had a 91% correlation with Google searches for it. There seems to be a real connection between people searching Bitcoin on Google and actual investment in the cryptocurrency. The CBS 60 Minutes segment, “Bitcoin’s Wild Ride,” which aired last week was very positive for Bitcoin.īitcoin’s price movement has been getting more and more people to search for it. For Bitcoin, cryptocurrencies and blockchain looking at the search data for different geographies, we can examine the entire ecosystem in new and interesting ways.īitcoin has been hovering around $8,000. This data confirms studies that suggest there’s a correlation between Bitcoin’s price movements and search interest for it. Data from Google Trends shows search interest for Bitcoin hit a 14-month high. Engagement levels are red hot, with crypto investors checking the daily price of of their precious coin.

Search is a great indicator of what people are interested in. Search data is a great way to track the growth of active Bitcoin and cryptocurrency users.

Google trends data bitcoin