Google Search Engine Trends Indicate Bitcoin Interest Rising Once Again
Google Trends Indicate Interest In Bitcoin
Bitcoin is a roller coaster. It goes up and down following the public sentiment about it and smart investors are already learning how to know when the prices will go one way or another. If you are in a Bitcoin bull, for instance, you simply wait until the market has one of its cyclic crashes and buy the tokens to sell them wherever the price is high again.
One of the trends that most traders have already understood is that the price of Bitcoin is somehow related to how much people are interested in it in a specific moment. If you follow the Google trends graphs, you will see a very strong correlation between the searches for Bitcoin and the prices of the tokens.
If people lose interest, Bitcoin loses price and if they are interested again, it rises. If you analyze the trends, you can clearly see that when interest in the stocks is higher, the values tend to be lower, as the fall in price generally causes people to be concerned. However, Bitcoin is the exact opposite situation.
The Stock Market Is Driven By Fear, The Bitcoin Market Is Moved By Greed
The conclusion that one could have by analyzing and comparing the data is that the traditional stock market is moved by fear. Whenever investors are afraid, they tend to look for more stocks on the internet. However, the price of Bitcoin is moved by greed. If people are interested in Bitcoin, the price will rise accordingly.
One could say that this happens because the old are more fearful of losing their money (FOMO) and ending up in a bad situation while the young are hopeful and, well, greedier.
Has The Worst Already Passed?
One of the main fears of investors is that the price of Bitcoin will go down again. However, experts have been saying that the worst may now be over for good. It is sure hard to know for certain, but mining is stronger than ever and, little by little, it looks like the blockchain industry is consolidating.
Another hint for the future of Bitcoin might be that, if the token is actually moved by greed, its price will grow in the future, as we all know that greed is something that society will never be without.