Google Search Trends Analysis Bitcoin Third Time

December 31, 2020 first round

January 9, 2021 Second round

The recent Bitcoin event is Elon Musk's self-introduction on Twitter as Bitcoin.

At the time I wrote this (in bold) on MeWe :

I chose to put all the bets that I wanted to buy low into BTC. Main reason:

1. BTC has failed to challenge resistance at least twice in the past few days, and this is the third time, but three things have happened.
2. The descending tech pattern (triangles that can be seen by the teacher) has been destroyed.
3. The anti-Wall Street hegemony campaign launched by WSB has the potential to sweep the world. The number of users in the WSB group has risen sharply from 2 million last Friday to 5.8 million now. question.
4. Now the crowd is surging, and Elon Musk, who is now the richest man and the spiritual leader of young people, will not be disappointed. It is estimated that he may announce how much BTC his company has bought in the future.

HODL after that.

However, Bitcoin instantly climbed 20% to more than $38,000 and then quickly recovered. It once again fell below $33,000, and now it is still hovering around $34,000. I have no plans to change my mind just yet.

According to Google search trends, the global search popularity of the word "bitcoin" has dropped sharply for three consecutive weeks, from 67 to 35 after Bitcoin saw the top of $41,900. On the other hand, the process of breaking the 2017 high to $41,900 this time is really dominated by institutions, and now the decline in search popularity far exceeds the decline in currency prices, reflecting the sharp decline in the popularity of Bitcoin. Looking at the various phenomena in series, I can definitely say that we are only in the early stage of this Bitcoin boom, and there are still many institutions lining up to enter the market. Friends who hold Bitcoin must not sell easily. To hold Bitcoin, you must have some basic reserves as soon as possible. As an initial entry, you can hold Bitcoin for a long time with one to three months of monthly salary or 1% to 3% of your net assets. That’s right.