In a previous article, we demonstrated KLCI price forecast using Google Trends’ Data ( This week, we are going to examine the relationship between Bitcoin Price and its search frequency on Google.).
Google Trends () is a website by Google that analyzes the popularity of top search queries in Google Search across various regions and languages. The website uses graphs to compare the search volume of different queries over time (source: Wikipedia).
The following chart shows the relative query frequency of the term “Bitcoin” in Google Search and the Bitcoin price from Jan 2016 to Sep 2018. The blue line is the normalized “Bitcoin” search term frequency while the orange line is the normalized Bitcoin price. There is a very strong correlation between these two parameters. This could be due to Bitcoin traders or investors who are internet savvy at the same time. Speculators may monitor the “Bitcoin” search term frequency to predict the next movement of the Bitcoin price.