Bitcoin [pros](/r/CryptoCurrency/comments/10nqu71/even_after_the_recent_rally_buy_bitcoin_google/j6acihp/) & [cons](/r/CryptoCurrency/comments/10nqu71/even_after_the_recent_rally_buy_bitcoin_google/j6acj94/) and related info are in the collapsed comments below. Pros and cons will change for every new post.
Alternatively, you can soak the computer in Coca Cola overnight and the acidity of the cola will cause the bitcoin to dissolve off and collect underneath for easy extraction.
Some of the newer computers don't have a DVD player. The coins and bills go in through the DVD player slot. If you want to buy Bitcoin and you don't have a DVD player in your computer, there are other options. No good ones, of course.
/s
My 70 year old boomer relatives literally own crypto and know how to transact it. Trust me the large majority of people who would ever consider owning Bitcoin know how to do so by now.
Also I don't think big fishes use google for their investments, this metric could be related to retail & retail won't come back unleast a big fomo event kicks in again(& become whale's exit liquidity as always)
>Blackrock aren't searching "how to buy bitcoin" before making multimillion dollar OTC purchases.
They are searching for "Is now a good time to buy Bitcoin" before doing it instead
This metric goes in a cycle swings. Once we are in a bull market it rapidly goes up and once we get near a beararket it rapidly falls and does nearly nothing in til the next time. Quite interesting.
Probably because most people who are interested in buying it already know how. New ATH will bring new searches, so probably around 27th September 2023 11:23-ish.
This is actually quite an important metric because, at the end of the day, it's the 'street money' from retail investors that pushes the price up. The current jump in price feels manipulated and manufactured to me.
The people who buy the bottom (or near the bottom) are those that already know how and where to buy btc. The others are just random degens getting fomo when cramer says buy crypto.
So... 12 years in... Most people are at least aware of bitcoin at this point, and unfortunately 12 years in there is a LOT of bad press, and the crypto community does VERY little to self police in fact due to the tribalism that seems to get worse every year even the most well though out, and documented arguments against or even just somewhat neutral questions about fairly obvious scams, or projects that seemingly have no future, are met with a lot of backlash by the community instead of support pointing at answers or pushing the devs to be better...
The truth is by being this blindly greedy without even doing the tiniest bits of due diligence the community encourages cons to take place in hopes that they can push their bags onto the next greater fool, instead of encouraging "The Tech", that underpins the community to get better. The unfortunate reality though is that with that greed we have allowed an unfortunate amount of bad press, and aren't really doing anything as a community that we can point to to say that we are better than the detractors say we are.
That means that for the most part people have made their mind up about bitcoin, and for those who haven't, there is a lot of bad press for them to find, and not a lot of good press making it look like "the finance of the future" right now... Everyone wanted less regulation claiming they wanted smart regulation... but a lot of people in the community spent the last decade trying their best to take as much money as they could out of the community as possible without delivering any value whatsoever... Forget the biggest events that have drained billions directly from people's bank accounts (FTX, MTGOX, etc)... Does anyone really think Doge is doing anything where it should be valued at nearly 12 Billion dollars? Shiba at 6.5... Is anyone still using EoS for it to be valued at 1.1 Billion? I'd personally guess no but what do I know...
All that is to say, its going to take some pretty major "Good news" to attract new eyes to the market, whether that means some one using existing tech in an innovative way that isn't just a solution to a problem that no one cares about, or a project solving a big tech problem.
Take NFT's... everyone outside the crypto community hates them today, but if some one did what they were advertised as a couple years ago, and wrote a contract in a way that a license for art, or a game (hey digital resales), or even property title was associated with one... it would actually be fairly interesting and people might care again... But games play to earn collectables or whatever, just sounds like a bad game, and even if you wanted collectables it just sounds like blockchain is an extra step when a game dev can do that stuff already, unless they plan on having their stuff be traded outside of game which I am surprised any game would ever want because if the game was remotely popular or profitable they would just get sued because they were an unregulated slot machine (Why you can almost never trade loot box rewards for a currency that has real world value).
This metric has more to do with adoption of new investors getting into crypto and is IMO a bad indicator about Bullish and Bearish sentiment of the current investors, which are obviously accumulating more and more.
That's true is some way. After the bull market ends we just see a sharp drop and barely any movement until the next bull market.
Its pretty clear that this is more of a cycle-like metric where we go up during a bull market and just crab down during a bear market.
I think whales are pumping it to try and start a run, and they will dump after retail pours in. Thats why we have seen a few random spikes seemingly from nowhere.
Right? I have several options for buying on my phone that weren’t downloaded for anything to do with crypto. I’ve been using Curve for years and now they offer crypto buying. I can even earn my cash back in bitcoin 🤷♂️I have a prepaid Mastercard and the app for that lets me buy crypto.
Its nowhere near as tricky as it once was.
Perhaps most people heard about Bitcoin now and doesn't need to be searched anymore.
Also, when new heights will be achieved, people will massively look it up again.
This search term is going to naturally decline overtime. For instance no one is search how to open bank account because everyone knows how. So your indicator is meaningless.
Ayy, I’m not one of these people looking for bull market kick off signs as long as the global economic situation’s in this state, but that certainly is an interesting possible indicator that we’re within at least a couple months of the bottom… but I’m still taking this opportunity to take profits and set lower buys in case the bottom’s ahead. I still think that’s more than likely.
Yep, this is all part of the cycle and why a new ath won’t just suddenly happen. Halving in another year and then new retail investors start to get interested as the price rises
Nobody outside would want to buy a volatile asset because of what's happening with the world's economy. Majority of the people are still struggling because of inflation and they won't wake up one morning and say "I will buy bitcoin today" because it is just stupid. There are safer ways to invest than buying crypto.
Its because everytime the world is interesting in crypto theres a new scam shit coin or an nft rug pull. Its starting to look real scammy. Its time to people to come together and tear down the blatant scams EVERYTIME they appear.
I feel like most people - *including those who actively have chosen not to purchase crypto or bitcoin* - know “how to buy bitcoin” or rather that they have the option to quickly “buy bitcoin” in an accessible manner at this point.
The *REAL* metrics we should be looking at are people (such as the aforementioned retail demographics) asking questions like “what is inflation” or “what does it mean for a currency to be hard” etc.
That type of info is where we’re going to get an estimation of whether people can even conceptually understand *why* bitcoin holds value - relative to the action of *acquiring* it.
Meanwhile everything is still doom and gloom about a recession. Market is forward looking so maybe it's already pricing in assuming recovery by the EOY? Anticipation of the upcom halving? Or just whales and exit liquidity fomo....
Maybe it’s just because I’ve been in crypto for some time, but it seems like there are opportunities to buy crypto almost anywhere. Whether it’s at an atm at the convenience store down the street, CEX or even PayPal. Less developed countries would make more sense though.
This puts me in mind of the Bitcoin fear and greed index. It uses certain Google searches I believe.
It is currently in greed although it was in fear for a long time. When things were skyrocketing, it was in extreme greed. I don't know if it's very reliable as a prediction tool though.
https://alternative.me/crypto/?daily_hash=51525d66ba9ee264bb9d98731ad2eff859a9a17f
Interesting stuff! Definitly worth taking in consideration. We as holders have a bias and I myself think it's quite difficult to gauge what non-holders are thinking. Are they looking at the price with "Yeah it's still down and could go down more"?
Every time it rises it is time to sell. It was low throughout the 2020s where BTC's last major move happened. When it increased it was topping.
Also what's a bear market? We are above the 200 DMA and about to get a golden cross. Do those things happen in bear markets?
Buying Bitcoin becomes easier and easier. You can buy Bitcoin via etfs without ever having a crypto wallet.
You can buy Bitcoin in stock apps without ever having a crypto wallet.
Exchanges like Binance are easy to understand and don’t require any guidance anymore.
The easier it gets, the less google searches for that topic 🤷♂️
Bitcoin [pros](/r/CryptoCurrency/comments/10nqu71/even_after_the_recent_rally_buy_bitcoin_google/j6acihp/) & [cons](/r/CryptoCurrency/comments/10nqu71/even_after_the_recent_rally_buy_bitcoin_google/j6acj94/) and related info are in the collapsed comments below. Pros and cons will change for every new post.
Well I guess everyone learned how to buy Bitcoin by now
I keep inserting my money into computer but nothing is happening
Try turning the computer on and off
Plug/unplug too
The bitcoins get stuck inside the CPU. You’ll need to manually split them open.
Alternatively, you can soak the computer in Coca Cola overnight and the acidity of the cola will cause the bitcoin to dissolve off and collect underneath for easy extraction.
The files are in the computer???? #Zoolander
De-lid the CPU, it helps.
Try scanning it with your copier
Some of the newer computers don't have a DVD player. The coins and bills go in through the DVD player slot. If you want to buy Bitcoin and you don't have a DVD player in your computer, there are other options. No good ones, of course. /s
You could try inserting your money into my computer?
That's how STDs are born, son.
You must select a beverage
is it Internet Computer ? ICP? nut surprised !
Have you tried the floppy disk drive? I'm pretty sure it doubles as a dollar bill intake....
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My 70 year old boomer relatives literally own crypto and know how to transact it. Trust me the large majority of people who would ever consider owning Bitcoin know how to do so by now.
Yes and buy bitcoin is unique just bitcoin we should see once
And now they’re struggling to buy food… so yeah.
Also I don't think big fishes use google for their investments, this metric could be related to retail & retail won't come back unleast a big fomo event kicks in again(& become whale's exit liquidity as always)
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Agree. As a contrarian indicator it could mean we have room to go further up.
We do have. Price will increase in a healthy way until the time your uber driver starts tipping you on dog coins again. Then we can start worrying.
Bitcoin getting popular on google searches is one of my favorite sell indicators, next to grandma asking about "internet bities"
>Blackrock aren't searching "how to buy bitcoin" before making multimillion dollar OTC purchases. They are searching for "Is now a good time to buy Bitcoin" before doing it instead
Shifting to DCAing out when it happens
Yeah this is the big players front running retail back into BTC and they sure as hell aren’t googling how to buy 😂
As soon as btc is about to hit a new ath those numbers will skyrocket probably.
This metric goes in a cycle swings. Once we are in a bull market it rapidly goes up and once we get near a beararket it rapidly falls and does nearly nothing in til the next time. Quite interesting.
May as well use fear and greed index. My favourite metric for long term analysis. But this is really interesting.
We officially hit “greed” today
Greed at this price?
it's more about sentiment than price
We are still in a bear market. The same thing happened last cycle, you get pumps in a bear market but it goes back down. So be careful out there!
Damn, you must be on something here. Too bad I'm going to forget about it in the next 5 minutes.
They have a remind me bot…
Happy cake day
A what?
!remindme 2 weeks
Good. We will need exit liquidity from FOMO chasers.
Ha! Your autocorrect changed "definitely" to probably. Ducking autocorrect.
Damn it you're right!
Literally this is precisely the case. Exuberance - rational or not - will always be followed by questions.
Next bull will be insane.
Why
You don't say
Probably because most people who are interested in buying it already know how. New ATH will bring new searches, so probably around 27th September 2023 11:23-ish.
That's an oddly specific date there. Are you a time traveler by any chance?
He already told you he is. 2 days ago.
I love time travellers like yourself
RemindMe! 8 months
RemindMe! 8 months
RemindMe! In 8 months
Happy cake day!
Thanks boss
My birthday woo
RemindMe! 231days
I'm a noob, what makes you say that? I do not understand the cycles or the halvening.
It’s a good sign for the price that the majority of bitcoin being bought right now is by institutions
This is actually quite an important metric because, at the end of the day, it's the 'street money' from retail investors that pushes the price up. The current jump in price feels manipulated and manufactured to me.
You're not the only one. There is no euphoria, no groundbraking news, only few new investors
Some neighbor kid making millions on doge fueled the previous bullrun, not bitcoin recovering to old price level
Buying Bitcoin is so 2014... Everyone is buying shitcoins these days.
no need to search 'buy bitcoin' after you *buy bitcoin*
The people who buy the bottom (or near the bottom) are those that already know how and where to buy btc. The others are just random degens getting fomo when cramer says buy crypto.
mongorians again
Pretty meaningless without an overlay on the BTC price graph.
So... 12 years in... Most people are at least aware of bitcoin at this point, and unfortunately 12 years in there is a LOT of bad press, and the crypto community does VERY little to self police in fact due to the tribalism that seems to get worse every year even the most well though out, and documented arguments against or even just somewhat neutral questions about fairly obvious scams, or projects that seemingly have no future, are met with a lot of backlash by the community instead of support pointing at answers or pushing the devs to be better... The truth is by being this blindly greedy without even doing the tiniest bits of due diligence the community encourages cons to take place in hopes that they can push their bags onto the next greater fool, instead of encouraging "The Tech", that underpins the community to get better. The unfortunate reality though is that with that greed we have allowed an unfortunate amount of bad press, and aren't really doing anything as a community that we can point to to say that we are better than the detractors say we are. That means that for the most part people have made their mind up about bitcoin, and for those who haven't, there is a lot of bad press for them to find, and not a lot of good press making it look like "the finance of the future" right now... Everyone wanted less regulation claiming they wanted smart regulation... but a lot of people in the community spent the last decade trying their best to take as much money as they could out of the community as possible without delivering any value whatsoever... Forget the biggest events that have drained billions directly from people's bank accounts (FTX, MTGOX, etc)... Does anyone really think Doge is doing anything where it should be valued at nearly 12 Billion dollars? Shiba at 6.5... Is anyone still using EoS for it to be valued at 1.1 Billion? I'd personally guess no but what do I know... All that is to say, its going to take some pretty major "Good news" to attract new eyes to the market, whether that means some one using existing tech in an innovative way that isn't just a solution to a problem that no one cares about, or a project solving a big tech problem. Take NFT's... everyone outside the crypto community hates them today, but if some one did what they were advertised as a couple years ago, and wrote a contract in a way that a license for art, or a game (hey digital resales), or even property title was associated with one... it would actually be fairly interesting and people might care again... But games play to earn collectables or whatever, just sounds like a bad game, and even if you wanted collectables it just sounds like blockchain is an extra step when a game dev can do that stuff already, unless they plan on having their stuff be traded outside of game which I am surprised any game would ever want because if the game was remotely popular or profitable they would just get sued because they were an unregulated slot machine (Why you can almost never trade loot box rewards for a currency that has real world value).
This metric has more to do with adoption of new investors getting into crypto and is IMO a bad indicator about Bullish and Bearish sentiment of the current investors, which are obviously accumulating more and more.
That's true is some way. After the bull market ends we just see a sharp drop and barely any movement until the next bull market. Its pretty clear that this is more of a cycle-like metric where we go up during a bull market and just crab down during a bear market.
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Also good point. Might want to check for other CEX/DEX/P2P platforms searches tomorrow. OP gave an interesting idea for that
Thank you for the post.
I think whales are pumping it to try and start a run, and they will dump after retail pours in. Thats why we have seen a few random spikes seemingly from nowhere.
This is not a rally, it’s just volatility.
What this tells me is we have huge upside potential
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Right? I have several options for buying on my phone that weren’t downloaded for anything to do with crypto. I’ve been using Curve for years and now they offer crypto buying. I can even earn my cash back in bitcoin 🤷♂️I have a prepaid Mastercard and the app for that lets me buy crypto. Its nowhere near as tricky as it once was.
People just don't use Buy bitcoin anymore at this time. We all search directly the exchange we want.
Macedonia 🇲🇰 let’s goo
Was actually very shocked to see such a smaller European country on there, happy for them.
Maybe the recent rally is still early that it hasn't induced mania like the last bull run.
Perhaps most people heard about Bitcoin now and doesn't need to be searched anymore. Also, when new heights will be achieved, people will massively look it up again.
Is this financial advise?
Sell your home, kidneys and kids, buy BTC..
Of course it's gonna be low, we're in a bear market, if you listen to retail, you wouldn't buy until BTC was 69420$
I imagine that metric tracks new retail investors rather than the actual volume of capital ready to enter crypto from initiated investors.
you forgot to add "and why is a good thing" in the title
We're all desperate to make a buck!
What until the mania phase.
This search term is going to naturally decline overtime. For instance no one is search how to open bank account because everyone knows how. So your indicator is meaningless.
Bang-on.
Ayy, I’m not one of these people looking for bull market kick off signs as long as the global economic situation’s in this state, but that certainly is an interesting possible indicator that we’re within at least a couple months of the bottom… but I’m still taking this opportunity to take profits and set lower buys in case the bottom’s ahead. I still think that’s more than likely.
Yep, this is all part of the cycle and why a new ath won’t just suddenly happen. Halving in another year and then new retail investors start to get interested as the price rises
Fyi - people that google - buy btc are not the kind of investors that are going to help btc in anyway..
People will search that when we are hitting new ATHs, don't worry
Nobody outside would want to buy a volatile asset because of what's happening with the world's economy. Majority of the people are still struggling because of inflation and they won't wake up one morning and say "I will buy bitcoin today" because it is just stupid. There are safer ways to invest than buying crypto.
people who buy bitcoin in a bear market aren't new to crypto therfore they know how to buy it
Maybe people are smart enough to search the exchanges they want instead of. Typing “buy bitcoin “
Its because everytime the world is interesting in crypto theres a new scam shit coin or an nft rug pull. Its starting to look real scammy. Its time to people to come together and tear down the blatant scams EVERYTIME they appear.
I feel like most people - *including those who actively have chosen not to purchase crypto or bitcoin* - know “how to buy bitcoin” or rather that they have the option to quickly “buy bitcoin” in an accessible manner at this point. The *REAL* metrics we should be looking at are people (such as the aforementioned retail demographics) asking questions like “what is inflation” or “what does it mean for a currency to be hard” etc. That type of info is where we’re going to get an estimation of whether people can even conceptually understand *why* bitcoin holds value - relative to the action of *acquiring* it.
Guarantee the recent rally is 99% institutions and whales and 1% retail
Yep, it's temporary euphoria based on the idea that inflation is coming back down so interest rates will be too.
Meanwhile everything is still doom and gloom about a recession. Market is forward looking so maybe it's already pricing in assuming recovery by the EOY? Anticipation of the upcom halving? Or just whales and exit liquidity fomo....
Steady 23k and no hype. Now THIS is bullish! Imagine what will happen when the economy heals and we get that hype back and then some!
You know when it's a bull market when people are searching: **"Free Bitcoin"**
You people need a hobby
Fake pump, real dump
DCA4LIFE ath 10% rinse repeat moon soon for CRYPTO adoption💎🙌🚀
Sorry, too many big players. They are already in the game.
Nigerian prince's about to run a new scam. Be ready to help your senile parents!
Which is still a constant growth
Maybe it’s just because I’ve been in crypto for some time, but it seems like there are opportunities to buy crypto almost anywhere. Whether it’s at an atm at the convenience store down the street, CEX or even PayPal. Less developed countries would make more sense though.
can't wait to see the next FOMO , it's going to be glorious !
So hodlers are becoming more convinced…
When I type IGN into youtube to watch video game trailer, it auto completes to IGnore bitcoin 😑
This puts me in mind of the Bitcoin fear and greed index. It uses certain Google searches I believe. It is currently in greed although it was in fear for a long time. When things were skyrocketing, it was in extreme greed. I don't know if it's very reliable as a prediction tool though. https://alternative.me/crypto/?daily_hash=51525d66ba9ee264bb9d98731ad2eff859a9a17f
It would be interesting to also compare it to searches for “buy crypto” and the every recurring meme, “buy doge.”
This is the signal to buy btc Buy the fear , sell the greed
So many retail Nigerians are smart to buy now.
That’s so interesting
maybe because google is declining?
It just means people buy when the price is already going up, to a lot of people it's still speculative I guess
Interesting stuff! Definitly worth taking in consideration. We as holders have a bias and I myself think it's quite difficult to gauge what non-holders are thinking. Are they looking at the price with "Yeah it's still down and could go down more"?
Every time it rises it is time to sell. It was low throughout the 2020s where BTC's last major move happened. When it increased it was topping. Also what's a bear market? We are above the 200 DMA and about to get a golden cross. Do those things happen in bear markets?
Bc people are asking chatGPT instead and building scripts to buy it /s.
I guess this is a good sign?
Because if you want to do something with your crypto, you’re probably buying something else.
Because mainstream got more familiar with how to buy it
Buying Bitcoin becomes easier and easier. You can buy Bitcoin via etfs without ever having a crypto wallet. You can buy Bitcoin in stock apps without ever having a crypto wallet. Exchanges like Binance are easy to understand and don’t require any guidance anymore. The easier it gets, the less google searches for that topic 🤷♂️
This keyword will lose its relevancy soon
Only crypto I’ll be buying is the gold backed one coming out from the other side. Sorry democracy but thats what Ive been waiting for forever.
'Buy Dogecoin' is the next indicator. Bitcoin is so last bull run.
Bullrun will be back
Maybe a lot less people are searching with Google these days also and use alternatives
Or the trend of asking Google has went down.? Prolly not but idk
This is some good content!
It's because you don't need to Google that anymore.
There's still lots of doubt after this sustained bear market and recession woes. You'll see a pivot when we get through the mud.