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Hmm, time o check the googlentrends "bitcoin" chart vs the bitcoin price chart again. They had a 1to1 correlation last time I looked.

EDIT: Just went back to look and peek Google Trends interest in Bitcoin happens prior to peek Bitcoin price so public interest leads Bitcoin price as I suggest. Trends crash before the price does.




Bitcoin was climbing steadily between Oct 19-30, and really accelerated on Oct 31. Google trends show an increase in interest from Oct 25-26. So the initial climb happened before anything showed up in google trends, but the acceleration happened after.


Correlation does not imply causation.


You're the kind of person who upon seeing a gun shot victim and as the coroner says, " He was killed by a bullet entering the body and piercing the heart" would shout out "Correlation does not imply causation" reflexively.

Do you really not think the general population's interest in bitcoin has any effect on the price?


Or maybe price is driving the interest?


Both of these things are likely true. Something creates a spark that drives the price up slightly and the media creates interest that drives up the price further, which the media reports on...

This will go on just like previously until the bubble pops again.


Perfectly fair question, but I highly doubt there would be a 1:1 causal relation from BC price to twitter mentions of it. Trending topics are more of a critical-mass "hashtags trending with exponential growth" kind of thing.


Nearly all the Twitter mentions of it I've seen lately were people talking about the price rise.


I'd agree. Buying BTC based on public interest would be too late.

I believe the public interest is sparked by the price - which is perhaps later adding additional additional price hikes sure - but the correlation is not public interest to price; I think it's the opposite, price to public interest.

Price drops - so will public interest.


Peek Bitcoin interest on Google Trends happens _prior_ to the peek bitcoin price for each previous bubble.


Or, both are true: this kind of positive feedback loop is the essence of a speculative market bubble.


Nobody said it did




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