@_mayerr@rrhoover@nikhilwins "Right now it hard to understand price/hype correlation."
The percentage change is the Price change or Google trend growth?
Fascinating. I wonder how closely Google Trends data relates to future price inflation and if it can be used to predict tomorrow's fluctuations. 🤔
Thoughts, @nikhilwins@mg@erikfinman?
@nikhilwins@erikfinman@rrhoover It's certainly one interesting indicator. But there are a couple things to consider:
1) Time horizon — Right now it's set to 6 years, which is insane from the crypto world. I'd reign that in to the last 6 months at the *most*.
2) False positives and noise — Just searching for something like "Ripple" is not enough. For instance, a Google Trend will show data 6 years back, but the company didn't even exist then. I'd assume that some filtering will need to be in there for it to be accurate at all.
3) Lead time to spikes — Google Trends tends to work well when the information hits more of the mainstream. By the time something actually trends in any meaningful capacity, the time to buy is most likely done and gone. Various subreddits, Telegram and Slack chats, and a few other sources may be more likely to find the interesting opportunities.
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I'm wondering what the goal of such a product is. More specifically, what is the rationale behind adding Google trends (which is merely a measure of the hype of each currency)?
Seems to me like it is hard to draw any conclusion from the correlation or not between the Google trend and the actual price
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@nikhilwins OK that's what I thought, but I'm just not sure there's a causation between Google Trend and the currency price.
For example, if there's a huge Bitcoin price drop, it will be all the media and people will talk about. The same would happen if there's a big surge in price. No actionable conclusion can be drawn from that.
But let's say this assertion is true, then what would be the added value? Can't predict the future based on that anyway.
from a technical perspective, are you querying an API for google trends? I notice some raw data in the URL, are you scraping it beforehand? Love the project!
@nikhilwins I'm curious how you got an api key for google trends? I've been trying the past few days but it appears its only for researchers/journalist, is there something i'm missing?
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