The search for the keyword “Bitcoin” has soared in recent times despite the chronic and relentless decline in its price on the cryptocurrency market. Is it a stimulus signal or a bubble prediction?
Bitcoin animates the Google search browser
Google is the most sought-after platform in the world in terms of internet search. The referencing data it records can be scrutinized to study the movement of a market or simply to predict the behavior of Internet users. For example, Google’s data reveal that searches associated with the word “Bitcoin”, the prolific cryptocurrency, have been the subject of a new record in recent days.
According to this information, it was found that the volume of research quickly rose from the last few weeks of tumult in the bear market. The fall of Bitcoin to less than 4000 dollars has attracted new interest from Internet users, and to a large extent, the reason for this fall.
Typically, user behavior on search platforms reveals social details that marketing or policy analysts study to predict future events. In agreement with the stormy situation of Bitcoin, this study does not reveal the probable revival of this currency but simply signals the echo of the crisis to the ears of users and ordinary Internet users.
On the other hand, Google reports that the searches are geolocated and it seems that it is Nigeria that holds the record in terms of research on the world of Bitcoin and its movements for some time, while the United States appears in 19th place.
What do you think of this technical information coming from Google? Comment in the comments section.