Correlation source between Bitcoin and Google Trends
1. The financial market, especially crypto, has a strong psychological factor, and Google Trends is a significant indicator for gauging public sentiment.
2. Pay attention to when people type Bitcoin into Google. Looking at the previous data, the Google Trends chart is perfectly overlapping the Bitcoin price.
3. The peak of Google Trends
• Mid-2019 Cycle Peak: Peak of the Trend
• Corona Dump: Peak
• Double Top in 2021: A research by a “new paradigm era”
• Bottom in 2022: "Bitcoin is dead"
Interesting is the current chart. Despite a +100% rise from the lows, Google Trends' research is below the 2019 cycle and doesn't even come close to approximation. Isn't this a very good bull sign for the short term as well as the long term?
