Can search volume on Google paints the trend for the crypto markets?

The crypto markets have seen some insane price action over the past several days and weeks, with Bitcoin racing above $10,000 as a plethora of different altcoins see returns that can only be accurately described as being parabolic.

This volatility, however, may have been easily forecasted simply by looking at data regarding the search trends for keywords and phrases relating to Bitcoin and crypto.

This same data that gave some investors insight into this latest uptrend also is signaling that Bitcoin and the aggregated crypto market could have significantly further room to run.

Prior to the latest leg up – which allowed the crypto to rally from the $9,000 region into the $10,000 region – analysts had noted that search activity for important Bitcoin-related phrases was spiking.

This hasn’t been limited to Bitcoin, however, as altcoins have also witnessed a similar phenomenon, with Hedera Hashgraph – a little known crypto that is currently trading up nearly 100% – seeing a massive spike in Google search volume just prior to its rally.
This volume surged on February 10th, and then the crypto began its meteoric ascent the next day, on February 11th.