For some weird reason, BTC searches on Google have exploded over the past week, increasing by 2400% in just seven days.
Google searches for ‘btc’ are now double the level they were during the peak of the 2017 all-time high.
Interestingly, the search term ‘bitcoin’ is a lot more popular than either ‘Brexit’ or ‘Boris.
‘Bitcoin‘ as a search term has not increased anywhere near as much which suggests some sort of manipulation.
In fact, ‘Bitcoin’ searches are bumbling along near the bottom of the graph, which means the BTC search spike is almost definitely an anomaly.
The vast majority of searches come from Romania.
The good news is that there is a high correlation between Google searches and the price.
“We also identified that there’s an 80.8% correlation ratio between Google searches and bitcoin price,” said Olga Andrienko, head of global marketing at SEMrush.