Volume of Google searches influences Bitcoin price

[Brazio]

According to an investigation conducted by advisors from the Central Bank of the Netherlands, changes in the value of the Bitcoin token (BTC) would be closely related to the searches that users perform on Google.

In line with other similar research developed by economists at Yale University, the Central Bank of the Netherlands concluded that an increase in Bitcoin's search volume would have a positive effect on its prices.

In this sense, the researchers conclude that the search volume of terms related to cryptocurrencies could serve as predictive indicators for trading enthusiasts.

Joost Van der Burgt, official spokesman for the De Nederslandsche Bank, said in an interview that the trend would have become even clearer at the end of last year amid the launch of Bitcoin futures.

Did you like this article? Don’t forget to follow @braziocoin on instagram to stay up to date with all the news of the cryptoworld.

Enter to braz.io to know more about this revolutionary project