Amid rising prices for bitcoins, something strange is happening in Google Trends. The term “BTC” has recently exploded and is currently at a record high in search.
The search terms “Bitcoin” and “BTC” on Google are probably manipulations. The reasons are not yet clear. According to Google Trends, the term “BTC” had an unexpected and completely unbelievable increase in interest, which looks like a straight line up on a 5-year chart. Peak occurred somewhere around August 30 and since then has constantly fluctuated upward. The search interest in BTC has exceeded everything that has been seen over the past five years.
On the one hand, most BTC searches come from Romania. Moreover, the strange rise and fall of only a 24-hour period seems unnatural. However, since Google Trends is not a completely accurate indicator of the volume of a search, it should not be taken as a clean coin. However, it seems that someone is playing with a search on Google to increase interest in BTC.
At the time of writing, the dominance of bitcoins was about 70%, which has not been observed since March 2017, so the interest in searching on Google should increase. However, this explosive growth is completely unnatural and, undoubtedly, simply strange. Perhaps the real volume of bitcoin trading is a better indicator of interest in leading cryptocurrencies than just Google Trends. In any case, interest in search is usually a lagging indicator for market analysis.