Google Trend - BTC
Last updated
Last updated
Google Trend represents trend data based on user searches for specific keywords on Google. When the market heats up, searches for related keywords become more frequent. By filtering relevant keywords and validating them against market trends, it becomes possible to quantify which stage the market sentiment is in.
When the Google search trend for the keyword "BTC" reaches abnormally high levels, it signifies that the market is in a frenzy, with everyone focusing on it. Conversely, low levels indicate reduced market interest.
According to the Shoeshine Boy Theory, when even shoeshine boys are eager to enter the market, it typically signals the end of the market cycle. CoinKarma optimizes Google Trend filters to identify when shoeshine boys are entering the market.
From the chart, it is evident that when the Google Trend value for BTC reaches abnormally high levels, it is highly likely to mark a short-term market top. Moreover, when the value consistently hits extreme highs, there is a strong probability that the market cycle is nearing its end, forming a global top.
