Published On: Tue, May 30th, 2017

Bitcoin Surpasses 2013 Google Trends Record

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The number of Google searches for Bitcoin has trumped its previous record high, according to Google Trends.
The third week of May saw interest in Bitcoin spike past its previous high set in November 2013. It currently holds a 30% lead over its past record. Bitcoin’s unprecedented price rise has undoubtedly driven recent interest towards it, having more than doubled since the beginning of 2017.

The Google Crystal Ball ®
Bitcoin’s previous spike on Google Trends coincides almost perfectly with its prior bubble, which capped at around $1,132 on November 29, 2013. A rapid price drop soon followed, and BTC fell to roughly $450 by the time its Google searches returned to normal levels around May 11, 2014.
The cryptocurrency’s first search spike before that also coincided with a small price bubble around April 2013. Although it should be noted that correlation does not equal causation, some investors are now pointing out that Google Trends is becoming a reliable indicator for bubbles and price reversals.

Google trends is actually a great leading indicator for price reversals during manias. #bitcoin #ethereum #cryptocurrency #btc #trading
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