Colas is not the first analyst to make the connection, with ARK Invest’s Chris Burniske previously pointing to a BTC/USD exchange rate that clearly reflected Google search trends. Burniske referred to it as “a virtuous Satoshi cycle,” evidence for which traces back to at least August 2017. Incidentally, today, a Google search of “bitcoin” yielded me 341 million results.
Fewer people have been searching bitcoin, and that waning interest is being reflected in the bitcoin price, which is currently trading in the $10,000 – $12,000 range compared to nearly a $20,000 bitcoin price in December. Colas concludes that interest levels as determined by Google searches show definite support for bitcoin’s “breakouts” and “pullbacks.”
Analysts at Deutsche Bank released a note to clients on Friday, Jan. 19 stating that there is a growing correlation between the price of Bitcoin (BTC) and the CBOE Volatility Index (VIX), also known as Wall Street’s “Fear Index.”
Masao Muraki, a global financial strategist at Deutsche Bank, along with two colleagues Hiroshi Torii and Tao Xu, wrote in the note that a lack of fluctuation and volatility in the stock market is leading investors to look elsewhere to make money.
BTC is currently trading at an average of $11,834, down 1.02 percent over the 24 hours to press time.
Curtis “50 Cent” Jackson made a lot of money by being an early believer in Bitcoin, TMZ.com reported on Tuesday. After giving the cryptocurrency a chance 4 years ago, he is now reaping the benefits which amount to over $7 mln, according to current exchange rates.
The rapper is reported to have kept all of his bitcoins without selling them for years until 2018. During that time the cryptocurrency has grown immensely — with the current price set at around $11,000, Jackson’s 700 coins are now worth more than $7 mln.
Canada’s Hydro Quebec will have to turn away cryptocurrency miners looking to setup operations in the province. The electricity supplier has been inundated with requests from cryptocurrency miners looking to setup operations in energy-rich province Quebec, according to Reuters.
Many miners, including giants like China-based Bitmain, have made it clear that they are looking to setup new mining operations overseas in countries with low power costs and surplus of energy. The crack down on cryptocurrency exchanges in China, as well as talks of power regulations applying to miners, has prompted miners to consider new sites to operate from.
Perry’s nails are now decorated with 3D images of five cryptocurrencies superimposed over a background of US dollar bills: the currencies are Bitcoin, Ethereum, Litecoin, Stellar and Monero. The singer did not disclose the reasons behind her selection.
The post – captioned “$—CrYpTo ClAwS—$” – has managed to amass over 150,000 likes.
Perry has also tagged the Instagram accounts of all five cryptocurrencies – ethereum_updates, litecoinofficial, bit, stellarlumens and moneroofficial.