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Google Search Can Predict Bitcoin Price Increases, Study Finds


A recent study published by the National Bureau of Economic Research (NBER) suggests that cryptocurrency markets move depending on the type of attention they receive unlike traditional financial markets.

In contrast with other traditional financial assets, cryptocurrencies don't behave or respond to the same set of market factors as traditional financial instruments but instead, move more closely with "cryptocurrency specific factors," according to the non-profit's report, which was published this week.

These factors include investor attention and market momentum, described as the "time-series cryptocurrency momentum at the daily and weekly frequencies."

The paper's authors, Yale University economists Yukun Liu and Aleh Tsyvinski, suggest that, contrary to public opinion, "the markets do not view cryptocurrencies similarly to standard asset classes."

Really? It's amazing when Google Search can do that. As I think, it will try to capture all the necessary and potential information which are relevant to Bitcoin and predict how they can affect to the increasing or decreasing of BTC price. The main feature helps Google can do that is the algorithm that Google is developing. It is so much amazing!!!


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