Another excellent indicator from Sminston!
Do "Bitcoin" Google searches indicate where we are in the cycle? - - - The two are absolutely correlated: Max Correlation= 0.76 Lag < 30 days (very short lag of price after searches) Here we're seeing the monthly price and estimated monthly Google searches for "Bitcoin" (arbitrary values; they are likely not accurate in the absolute sense, but the correlation between both metrics are the same - here I used 185M searches between May-June 2021). The resulting log-residuals plots, when fitting a power law to the bottom 50% of the data for each, shows we are: a. crab-crawling with price b. not seeing any real FOMO yet as indicated by Google searches (just a couple of small bumps) The strongest FOMO bubble by Google searches was the peak on December 18, 2017... 2021 had a similar online hype bubble, but diluted compared to 2017. What will 2025-2026 bring? To me, this indicates we are still NOT in a bull market - if you can believe it. Get your spacesuit on.🚀
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