Btc Google Trends

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The chart is presenting Google search activity and trends for keyword "Bitcion" and "Btc". The numbers show search interest relative to the highest point on the graph for a particular time comparision with price.

Number of searches about "Bitcoin" and "BTC" are saved in the specified time interval

Because of the quantity of searches at noon is more than the night, the idea of "there is an abnormal situation" even though the cryptocurrency markets are normal comes through.

To prevent this situation, the numbers indicated in the BTC chart show the difference between the searches in a specified time period from the mean.

For instance, if the average number of searches between 04:00 and 05:00 in the morning is 50, if in reality 70 searches, you see 20 searches on the coin graph.

Thus, independently of time, you notice if there is an abnormal situation in the cryptocurrency market.

Finally, the effect of these abnormal situations on the bitcoin value is shown on the bitcoin chart.

The Google Trends social Bitcoin metrics can be analyzed in a few ways;
  • If you see number of searches reached peak, It means that a lot of people interested in Bitcoin. Social analysis on market says that If a lot of people interest in a cryptocurrency, It is time to sell.
  • To opposite; If you see number of searches reached to bottom. It means that nobody interested in Bitcoin. Social analysis on market says that If nobody interest in a cryptocurrency, It is time to buy

Please check one of the other Social Metric Twitter Sentiment Analysis

Predicting the interests of people, even countries, and nations in masses is called social analysis.

Cryptocurrency market is a living social entity. Although using only technical analysis gives statistical opinion, it is necessary to understand the psychology of people and even nations to understand whether it will break the determined resistances and supports.

Social analysis is a way to evaluate financial data by looking at what other people are doing and comparing their tactics and strategies. technical alaysis of coin market

Crypto investors and traders should pay attention to social analysis to shape their investment decisions.

A few examples of social analysis are as follows;

  • If people think that the coin market is bullish, it means that there are enough buyers and this can be considered as a sales opportunity.
  • Conversely, if people are pessimistic as the coin market is bearish, this shows the exact time to buy.