Google Keyword Trend Statistics for the Top 10 Cryptocurrencies by Market Cap
Today I decided to go ahead with the plan from yesterday and compare 'Buy' and 'Sell' keyword interest on a seven day chart. Smaller time intervals produce noisier signals but we can still see general trends established in many cases. Either way, I might try daily charts next time to get a comparison. I also feel like focusing on google keywords tends introduces bias toward the interests of new money entering the market rather than old money being shuffled around so I've been thinking about variables I could introduce to test or accommodate that.
Bitcoin ends with increasing buy and sell interest but we can see that the buy interest appears steadier throughout the week while the sell interest has a few spikes closer to the end of the week. I think the price of Bitcoin will rise until August 1 in anticipation of scoring some Bitcoin Cash (BCC) so I don't necessarily agree with what the charts appear to be showing but these are also pretty weak signals.
We do have something of a wedge formation at the end of the buy interest in Ripple; perhaps we'll see another dip in prices before Aug 1. Comparing the volatility reveals some interesting trends: NEM and IOTA have significantly higher volatility on their buy charts than the sell charts and those two managed to hold and even increase in value during the correction we saw yesterday. I still want to try a shorter time frame next time but volatility may be the key to reading these charts.
As always, thanks for reading and hodl on, happy people!
Bitcoin (BTC)
Price: $2789.93
Market Cap: $45,964,027,002
Ethereum (ETH)
Price: $104.86
Market Cap: $18,242,813,977
Ripple (XRP)
Price: $0.166
Market Cap: $6,368,736,351
Litecoin (LTC)
Price: $40.83
Market Cap: $2,131,841,794
NEM (XEM)
Price: $0.159
Market Cap: $1,433,844,000
Dash (DASH)
Price: $185.35
Market Cap: $1,381,570,241
Ethereum Classic (ETC)
Price: $14.23
Market Cap: $1,337,291,502
IOTA (MIOTA)
Price: $0.267
Market Cap: $742,912,854
Monero (XMR)
Price: $44.21
Market Cap: $656,520,123
EOS (EOS)
Price: $1.87
Market Cap: $462,268,515
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