BITCOIN PRICE IN RELATION TO INVESTOR ATTENTION EFFECT : INTERESTING OBSERVATION
As per the Yale University Research Report they tied the Bitcoin price rise to Google Trends. So I have my observation on this factor. You can see the trend of Investor Over Time - the point between 1 and 25 - the line is exactly in the middle currently - probably you say 12.5 or 13 points. The investor over time point touched the 25 mark point on 22nd October 2017, when the price of BItcoin was in the range of $6000 - $6100.
But today the Investor Over Time point is 12.5 - the Price is $7100. Still we have half way mark to reach Investor Over Time Interest 25 mark point. Further what it will take for the increase in Google trend, probably the news on price rise in Bitcoin in the media create emotion in the minds of the people due to FOMO.
The point to be noted is that the Investor Over Time Point 25 on October 22, 2017 - Bitcoin $6000-6100
But, currently Investor Over Time Point at 12.5 - Bitcoin at $7000 - $7100 - almost double.
So can we conclude that when the google trends reach Investor over Time point 25, will Bitcoin be trading between $14,000 - $15,000. No one knows, the time will speak for itself. May be this can be a reference point future price prediction factors.
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