Google Trends records abnormal BTC request growth

by in Cryptocurrency News

Google trends BTC

The indicator for the “BTC” request in Google grew from 2 points to 100, while the “Bitcoin” request remained the same 8 points.

Related: Burger King Venezuela now accepts crypto payments

BTC request

According to one version, users searched for the Bahamas Telecommunications Company (BTC), the interest in which is due to Hurricane Dorian. According to Forbes, the reason is attempts to manipulate the price of bitcoin.

There are algorithms programmed to find correlations between the number of requests for the word "BTC" on Google and the movement of the price of bitcoin. After buying bitcoins, scammers can launch a wave of requests. Algorithms see the growth of requests and buy large volumes, which pushes the price up. Easy money. That is how trader Glen Goodman explained the situation.

He noted that surges in requests occur at the "quietest hours" in each country around 4 or 5 in the morning. Then spam requests have a maximum impact on performance.

It is noteworthy that Romania could become the source of the surge. Although analysts do not exclude the use of VPN services by spammers.

Recall, according to Google Trends, last year Bitcoin became one of the most popular requests.