Correlation between Bitcoin price and Google search

In 2017, Semrush, a search engine marketing agency, reported that bitcoin prices correlated 91% with the volume of Google searches related to bitcoin. This means that the price of bitcoin has gone up and down along with the number of searches related to bitcoin.

Although Semrush’s study showed that the volume of searches increased as the price of bitcoin increased, it did not specify whether the searches predicted the exchange rate between bitcoin and the dollar. Bitcoin searches rose 450% in the five months between April and September. The estimated volume of Bitcoin-related search keywords in one year was $ 51.4 million.

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