08 Apr '13, 7pm

capitalize

capitalize

The two charts below are Google Trends plots, comparing search volumes of the words “Cyprus” and “Bitcoin” in an attempt to correlate real-world events with BTC prices. A note about the Google Trends charts below: the Y Axis is “Percentage of Peak Search Volume”. That means that the data set has been normalized such that the maximum value in the set is considered to be 100%, and all other numbers in the set are represented as their respective portions of the maximum. Thus, if “Bitcoin” was (hypothetical number) searched 10 million times and ”Cyprus” (also hypothetical) was searched 8 million times, BitCoin would equal 100% and Cyprus would equal 80%. It’s a way of loosely measuring correlations of interests and although it’s not perfect, the fact that BTC :: USD conversions have risen almost in lock-step with search volume of the term “Bitcoin”, it is accurate enough.

Full article: http://www.forbes.com/sites/kellyreid/2013/04/08/will-bit...

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