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Bitcoin Is Once Again Trending Over Jesus




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Bull market in bitcoin crypto currency Slovenia, December 1, 2018

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Is the recent bitcoin rally in illusion or is it & nbsp; part or a larger price trend, it is suddenly becoming a relevant question that is making its mark on Google Trends: Bitcoin is once again trending over Jesus when it comes to search interest worldwide and in the United States. bitcoin rallies to some of levels seen in 201

7 and 2018, right after bitcoin first passed in Google search interest for the first time.

Bitcoin trends about Jesus in Google Trends, author screenshot

Author screenshot

One of The leading indicators used to predict some economic outcomes have become Google search history, which can be encapsulated in Google trends. Google and its chief economist Hal Varian once released a paper that describes how searches for jobs and unemployment category keywords could be predicted for initial claims for unemployment benefits – which are used as a larger indicator for the health of an economy and whether or not is coming. correlation between Google Trends data and the number of initial claims that were made, even predicting for an unexpected drop in claims from the consensus by incoming claims came into. This same trend was a globalized phenomenon, with similar results being demonstrated by researchers in Germany and Israel.

It makes sense that in a digitized economy, that attention expressed in digital searches could be leading indicators of user and consumer behavior: after all , that's the billions of dollars in digital ad caters. What we are looking for is a reflection of where we place our attention in an environment where attention is scarce and more precious

If that's the case, then there's some good news for bitcoin fans and bitcoin trends about Jesus again. It comes at a time where Bitcoin market dominance & nbsp; has reached a two-year high as it increases over 60%. Interestingly, while bitcoin's search interest has spiked, search interest for other chains like ethereum and do not show the same pattern, even though their price has also increased with some positive correlation with the rise of bitcoin. Bitcoin dominance is inching higher , the relative amount of growth in bitcoin's price is higher than those of altcoins – but it does not like the difference in price is reflected in the difference in search interest.

Ethereum and ripple have not risen as much

Author screenshot

This pattern persists worldwide with few regional variations, though it is certainly less powerful to say in other countries like China, where search engine market share for local players rather than Google and where Christianity doesn't hold as much as a country like the United States – which has the largest Christian population in the world.

Yet regardless of any context, this can't be Mistaken for anything other than good news for the crypto ecosystem. With increased attention and interest comes downstream effects of more people becoming part of the crypto and bitcoin ecosystem as either consumers, miners or builders. And while it's unclear to what degree the correlation between search trends and price increases is driven by the price increase getting new eyes onto bitcoin again, or new stories and search interest driving demand for crypto and pushing up the price, it's clear the two factors are working together to create a virtuous cycle – where price increases and search interest will help drive up short-term and long-term value for the crypto ecosystem back, potentially, to the heights of 2017 and 2018 – and perhaps even beyond.

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Bull market in bitcoin crypto currency Slovenia, December 1, 2018

Getty

Is the recent bitcoin rally in illusion or is it part of a larger price trend? that is making its mark on Google trends, Bitcoin is once again trending over Jesus when it comes to search interest worldwide and in the United States. and in 2017 and 2018, right after bitcoin first passed in Google search for the first time.

Bitcoin trends about Jesus in Google Trends, author screenshot

Author screenshot

One of the leading indicators used to predict Some economic outcomes have become Google search history, which can be encapsulated in Google Trends. Google and its chief economist Hal Varian once released a paper that described how searches for jobs and unemployment category keywords could predict for initial claims for unemployment benefits – which are used as a larger indicator for the health of an economy and whether or not recession is coming

Hal Varian and his team were able to demonstrate some positive correlation between Google trends data and the number of initial claims that were made, even predicting an unexpected drop in claims from the consensus by economic experts at looking at Google Trends for unemployment and job searches pointing downwards before initial claims came in. This same trend was a globalized phenomenon, with similar results being demonstrated by researchers in Germany and Israel.

It makes sense that in a digitized economy, that attention expressed in digital searches could be leading indicators of user and consumer behavior: after all , that's the billions of dollars in digital ad caters. What we are looking for is a reflection of where we place our attention in an environment where attention is scarce and more precious. ”If that's the case, then there is good news for bitcoin fans as bitcoin trends about Jesus again. It comes at a time where Bitcoin market dominance has reached a two-year high as it increases over 60%. Interestingly, while bitcoin's search interest has spiked, search for other chains like ethereum and do not show the same pattern, even though their price has also increased with some positive correlation with the rise of bitcoin. Bitcoin dominance is higher, so the relative amount of growth in bitcoin is higher than those of altcoins – but it doesn't seem like the difference in price is fully reflected in the difference in search interest.

Ethereum and ripple have no rice as much

Author screenshot

This pattern persists worldwide with few regional variations, though it is certainly less powerful to say in other countries like China, where search engine market share til local players rather than Google and where Christianity doesn't hold as much as a country like the United States – which has the largest Christian population in the world.

Yet regardless of any context, this can not be mistaken for anything other than good news for the crypto ecosystem. With increased attention and interest comes downstream effects of more people becoming part of the crypto and bitcoin ecosystem as either consumers, miners or builders. And while it's unclear to what degree the correlation between search trends and price increases is driven by the price increase getting new eyes onto bitcoin again, or new stories and search interest driving demand for crypto and pushing up the price, it's clear the two factors are working together to create a virtuous cycle – where price increases and search interest will help drive up short-term and long-term value for the crypto ecosystem back, potentially, to the heights of 2017 and 2018 – and perhaps even beyond. 19659027]
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