NBER Study Reveals Google Search Trends And Bitcoin Price Have Correlation

2018-8-10 12:07

The National Bureau of Economic Research (NBER) frequently assesses different factors that can impact the financial growth in the country. Based on a recent study that they performed, it seems that the cryptocurrency market is predominantly based on the attention of consumers. This is directly contradictory to the way that traditional financial markets.

Cryptocurrencies are subjected to many other market factors that are specific to their industry, rather than behaving as the financial sector predicts. The report says that the factors that could sway cryptocurrency include the momentum of the growing market and the attention the platform receives from potential and existing investors.

This is described in the report as, “time-series cryptocurrency momentum at the daily and weekly frequencies.”

The paper had two authors, who were both from Yale University. Those authors were Yukun Liu and Aleh Tsyvinski, and they have said that,

“the markets do not view cryptocurrencies similarly to standard asset classes.”

They discussed the price trackers on CoinDesk for Bitcoin, Ethereum, and XRP as their main, and potentially only, source of data on the market. However, they considered multiple years of performance, using those details to compare the returns that people receive with fiat currency, metal, and economic factors.

For the most part, the information they found were barely relevant, apart from the trend of price increases. The market seemed to be moved by even a small daily return. The price increase could even be predicted for up to six days with this information, while a weekly return was enough to alter the movement in the market for nearly a month.

The study also includes information that the researchers gathered from sources like Google and Twitter. They concluded that simply seeing a surge in searches for certain keywords, like “bitcoin” or the name of another platform, would trigger a boost in the token price, even though the change was rather small.

Typically, with one increase of a certain keyword, consumers were looking at a 2.5% increase on the token. However, for search terms that were more derogatory, like “bitcoin hack,” the market would see a similar drop in the price of Bitcoin.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Impact (IMX) на Currencies.ru

$ 0.0005193 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: -34.78 %
Cегодня L: $0.0005193 - H: $0.0005193
Капитализация $57.451k Rank 99999
Цена в час новости $ 0.0009671 (-46.3%)

financial based nber study cryptocurrencies seems performed

financial based → Результатов: 86


Фото:

XRP-Centric SBI Holdings Partners with China’s OneConnect that serves 468 Banks and More

In the most recent financial report by SBI Holdings, the firm had mentioned how it would continue to expand its reach globally by creating synergies/partnerships/joint ventures through the establishment of a new ecosystem based on digital assets that will further achieve the following: Expand investments into domestic and overseas digital asset based ventures Pursuit of […] The post XRP-Centric SBI Holdings Partners with China’s OneConnect that serves 468 Banks and More appeared first on Ethereum World News.

2018-8-7 19:18


Фото:

Barclays And Citibank Could Move Into Cryptocurrency With New IBM Guidance

Barclays Bank and Citibank are two of the big firms associated with a new blockchain trial managed by tech giants, IBM. IBM are no strangers to blockchain technology, after building up an entire research focus based around blockchain technology, this latest development see’s a number of well established financial service providers working alongside IBM to pilot new blockchain trails that could in turn help to see the likes of Barclays Bank and Citibank further explore the potential that cryptocurrency has to offer their companies.

2018-7-30 16:00


New Zealand’s SBS Bank Explores Using Blockchain For User Experience Benefits

In some very positive blockchain news, one of New Zealand’s leading banks, SBS Bank, appears to consider integrating blockchain support to provide better user experience to their local clients. This proactive approach is very promising as most financial institutions are not offering enough options for their clients who are interested in investing in cryptocurrencies. Based […]

2018-7-21 00:38


Tkeycoin DAO ICO

TCD Corporation (formerly Holding BR) is an IT company engaged in the development of modern solutions for the economic and public spheres of activity. Since October 2017, TCD Corporation has been designing and developing a new cryptographic decentralized platform - "Tkeycoin DAO" for payment systems, banking and financial sector.

2018-7-12 22:56


FSA Considers Changing Japanese Cryptocurrency Regulations

New information points towards the FSA, Japan’s financial regulating body, changing the legal basis on which cryptocurrencies are overseen in the country. FSA Considers Change to Regulatory Basis As was reported in local Japanese media Sankei on July 3, the Financial Services Agency is considering changing the legal foundation on which cryptocurrency regulation is based, from.

2018-7-3 16:30


Global Pay Net ICO

Global Pay Net is an international financial platform that is based on the Blockchain technology. The company has been developing a unified service that allows each of its users to invest their money at interest, take out a loan, exchange funds and cryptocurrencies, keep their savings at a profit, and pay for goods or services using their own GLPN wallet.

2018-6-28 17:51