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Crypto Thursday: Google Trends vs. Market Capitalization for top Cryptocurrencies

Nov 29, 2018

 

 

The Data Daily: Where the charts tell the story

This week we are comparing Google Trends vs. market capitalization for top cryptocurrencies.

 

From the graphs below we observe:

  • As the cryptocurrency sell-off extended into its second week, searches for "Bitcoin", "Ethereum", and other cryptocurrency-related terms began to gain significant traction. There is a possibility that sentiment may have sparked the rally we have seen in cryptocurrency prices over the last two days. As can be seen in the charts below, cryptocurrency prices and market capitalization are at their lowest generally when search activity volumes are low.

 

Bitcoin (BTC) - Google Trends vs. market capitalization - 1 Year

Ethereum (ETH) - Google Trends vs. market capitalization - 1 Year

 

Litecoin (LTC) - Google Trends vs. market capitalization - 1 Year

Monero (XMR) - Google Trends vs. market capitalization - 1 Year