A sudden and exceptional spur of BTC searches on Google is indicating something. But what exactly?
It is not the first time that the searches for the cryptocurrency have surpassed the median “Interest Over Time” of ‘50’. As the graph indicates, the value touched 75 in December 2017 when the bulls were at a peak.
This time it is not the Bitcoin but the ticker “BTC” that has broken the glass ceilings. From a single digit 2 to kneejerking 100 in 14-15 days, the hurl has left the tongues wagging. All this while the search value for Bitcoin stayed determined at 8.
When we took a closer look at today’s graph, it started with BTC searches at 91 that stooped down to 44 at press time. Furthermore, the region-wise breakdown indicates search traffic originating from Colombia and Romania.
Such rapid fluctuations did not miss the experts’ eyes. On 5th September, the crypto media outlet Kryptografen concluded a manipulative wave emerging from Romania.
Could this be the only instigation?
These radical changes in the value also led the media outlets to assess other factors as well. Is it related to the Cyclone Dorian? If so, how does it link?
Let us build it up. The cyclone left 75,000 people in need of urgent aid started intensifying towards 28th August. Being a category 4 hurricane, it has hit the local telecom network of Bahamas Telecommunications Company (BTC). It could be a neat coincidence that the company’s searches pumped the Bitcoin Tickers search values.
And yet let’s not forget: 40% of the searches happening at press time are still originating from Romania and Colombia. In the last 7 days, a search result pattern has built up.
We are quite close to the conclusion as the peak time zones correlate to the Bahamas rather than Romania. Unless some heavy manipulation is on its way. Will keep you posted on any development.