In addition to reading the tape, quantitative price analysis, and technical analysis, are there any tools we can use to monitor whether or not Tom Lee’s bullish outlook on Bitcoin based on Consensus is playing out or fizzling out?
One possibility might be to use the Google trends to monitor searches for both Bitcoin and Coinbase to see if there is an uptick that might suggest new entrants into the market. We can anticipate that generalized search terms are more likely to be correlated with news but that new entrants might be searching Coinbase or specific exchange terms if they were interested in opening accounts.
Recent Bitcoin and Coinbase interest:
Compared to time around Consensus last year:
And for 2016:
Granted, I did not perform an extensive and robust analysis. But, my cursory review does not show the same level of interest in Bitcoin searches this year as last year. However, it looks like we had a momentary blip in 2016 and then greater interest developed a few weeks later. That might be related to the amount of time it took for new participants to open accounts and/or for the possible new developments to be digested.
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