Bitcoin vs Google Trend Index

Initially, I wanted to find out whether or not the previous Bitcoin prices had any correlations with an increase right before a new All Time High was hit or positive news was announced in favour of Bitcoin. So, I exported data from Google Trends (Sadly, I couldn’t create live connections without using the PyTrends API), directly connected PowerBI to CoinGecko’s historical prices and several Wikipedia pages.

To my own surprise, Bitcoin breaking All Time Highs had no real impact on Google searches, nor did many news releases. Bitcoin breaking through major price milestones were more instrumental to spikes in searches than anything else. Especially, what they call the “psychological” milestones.

Some of the interesting datapoints I saw:
– 12 Oct 2017: Broke $5,000 (+66.67%)
– 29 Nov 2017: Broke $10,000 (+62.16%)
– 7 Dec 2017: Broke $15,000 (+100%)
– 22 Dec 2017: Peak of searches for Bitcoin (+92.31%) –
Shortly after, the “bubble” popped.

In the PowerBI report below, you can find the data that I explored. It connects to multiple sources that groups data together and refreshes every day at 12:00 PM. Do you see anything interesting?

Are we still early days? If the same was to repeat itself, which of course is highly unlikely, we should all be preparing to sell the majority of our BTC holdings on 22 Aug 2021 when BTC reaches $322,530. But hey, that’s just my “educated” guess ;).

Below you can find the Bitcoin tickers against two Fiat currencies and against one cryptocurrency.