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Cryptos: Bitcoin internet searches have a stunning correlation with bitcoin prices

It’s a crypto chicken-and-egg story for bitcoin. Internet searches for bitcoin are on the rise, and that has come as bitcoin prices have seen wild price swings.

It’s hard to say whether searches lead to higher prices or vice versa, but the correlation thus far has been eerie.

Bitcoin searches on Google, for example, between June 19 and June 26 have risen by more than 158% (see chart above), according to media analytics company SemRush.

“We also identified that there’s an 80.8% correlation ratio between Google searches and bitcoin price,” from June 19 to June 26, wrote Olga Andrienko, head of global marketing at SEMrush.

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