Google trends is commonly used to determine seasonality of a particular topic. The tool allows for the tracking of various words and phrases that are typed into Google's search-box. By researching phrases like “Bitcoin”, “Buy bitcoin” and “Sell bitcoin” an overview of potential new market users and general interest of the outside world can be obtained. The chart illustrates the use of these three phrases and compares it with price action and volume of the past year.
Orange Line: “Bitcoin”
Green Line: “Buy Bitcoin”
Blue Line: “Sell Bitcoin”
Worldwide weekly chart data is collected from google trends from 21 January 2018 up to 13 January 2019. Trend data is normalized and make fit on the price chart. The term “bitcoin” is searched much more extensive than that of “buy bitcoin” or “sell bitcoin”.
Note how the “bitcoin” phrase trend raised during the fall from 6K in November 2018, but steadily decreased since then. Also note how the "sell bitcoin" phrase has raised in the last weeks.
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Orange Line: “Bitcoin”
Green Line: “Buy Bitcoin”
Blue Line: “Sell Bitcoin”
Worldwide weekly chart data is collected from google trends from 21 January 2018 up to 13 January 2019. Trend data is normalized and make fit on the price chart. The term “bitcoin” is searched much more extensive than that of “buy bitcoin” or “sell bitcoin”.
Note how the “bitcoin” phrase trend raised during the fall from 6K in November 2018, but steadily decreased since then. Also note how the "sell bitcoin" phrase has raised in the last weeks.
I would appreciate the likes if you found this interesting.