Google Trends Predicts Bitcoin Price Movements

13-12-06_BTN_CloseVSearchvolume
13-12-06_BTN_CloseVSearchvolume

A couple things to note when viewing the chart presented above:

  • Price data is derived from Mt. Gox Data.
  • Closing price at 18:15 each day was used.
  • Price data was normalized by dividing all close prices by the largest closing price value over the last month and a half and then multiplying by 100. This allows for easier comparison against the google trends data for the term bitcoin.
  • This chart does not take into consideration many other factors such as intra day movements in BTC/USD

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