BTC Google Searches Increase Mysteriously Reason Behind Sudden Pump
According to the new data provided by best search engine Google, the Bitcoin price ticker ‘BTC’ searches has increased rapidly recently.
BTC worldwide searches between 29 August to 31 August increased from value 2 to 64 (reported on 30 August) and the search interest reached the maximum point of 100.
When we compare this data with Bitcoin history we found a relationship between search value increase and price movements.
Bitcoin and BTC Google searches hit all time high in Dec 2017 and Bitcoin hit it’s all time high of $19700 on 17 Dec 2017.
Bitcoin interest Increasing
The Google trends data shows that bitcoin interest is increasing worldwide. American business magazine Forbes published an article on 5 September explaining:
“It appears Google searches for bitcoin and BTC, the name used by traders for the bitcoin digital token, could be being manipulated–-possibly in order to move the bitcoin price.”
The articles includes an research from the crypto media outlet Kryptografen, which explains that Romania has seen the largest spike worldwide in BTC Google searches and maybe someone behind the sudden pump of Bitcoin price. The article further added “It is reasonable to assume that someone is behind these radical changes.”
Maybe the other explanation about bitcoin Google searches is that ‘BTC’ is not only the ticker symbol for world’s largest Cryptocurrency bitcoin but also the name of telecommunications provider in Bahamas, the Bahamas Telecommunications Company (BTC).
The tropical cyclone Dorian currently wreaking havoc across the Bahamas became a hurricane on Aug. 28, rapidly intensifying to a category 4 hurricane by Aug. 31 and to category 5 severity by Sept. 1.
As the strom continues into the island, local media has reported extensively loss of telecommunications network – Notably BTC.
Maybe the spike is because of Bakkt started BTC deposit to the warehouse on 6 September. Bakkt is most awaited event of 2019 and will start full services and trading on 23 September that is only 17 days from today. How Bakkt launch will affect Bitcoin Price?
