Bitcoin and cryptocurrency prices are well known to be closely tied to media and general public interest–though that could be changing...
Google searches for"BTC" have suddenly eclipsed"bitcoin" searches in the U.S. and around the world.This week there has been a massive leap in Google searches for"BTC," which usually is lower than searches for"bitcoin"–with search volume for"BTC" around the world far higher than it was even at the top of bitcoin's epic 2017 bull run.
"That the same pattern can be seen all over the world may indicate that VPN services have been used to distribute the search across the world, thus achieving a global trend. Google Trends points out that changes have been relatively large in Romania. Is this the source, or is it just because there have been fewer searches for BTC previously? Whatever the answer is–something very strange has happened to the interest in the keyword 'BTC' this past week.
Other bitcoin and cryptocurrency analysts were quick to join Schei in pointing to potential market manipulation. "There are algorithms programmed to look at Google Trends data and try to find correlations between numbers of searches for the word 'BTC' and the movements in the bitcoin price."
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