Google Analytics: Bitcoin will beat new records in the next few months
Analysis of search queries in Google suggests that a downtrend on the price of bitcoin may have reached the lower threshold, and may again turn in the direction of growth.
The price of bitcoin reached a record high in mid-December, reaching a mark of $ 20,000. The schedule of search queries on the topic bitcoin also peaked at the same time. The Google system monitors trillions of requests per year, and therefore is one of the most important indicators of public interest by region and category.
It is noteworthy that the data of last January assumed a sudden and rapid growth. The forecast turned out to be correct, albeit with a short lull in the first two months (similar to what we see now). According to analysts of search queries, now we see a repeat of last year's trend. The chart shows a reversal in the direction of growth in February.
Thus, if you believe that the bitcoin price is formed in part, based on the level of public interest in the phenomenon, then there is a high probability that bitcoin can beat new records in the next few months, according to some predictions of analysts.
"I believe that regulators will excite the market several times a week in the next two months, until the SEC decides on regulation, and institutional investors do not start investing ... At this point, prices will go up. I believe that this will happen in March or April, "says the president of LDJ Capital, David Drake.
In addition to the expected decline in transaction costs and technological updates this year, another factor of possible growth lies in the fact that the latest drop left behind the so-called "weak hands", investors who are hastily getting rid of their investments in the short term, in panic.
