Google Searches for Bitcoin Reaching New Highs

Google searches for the term "Bitcoin" have reached all records this month. The influx of searches is correlated with a decrease in queries for "Ethereum", reversing months of relative correlation between Bitcoin and Ethereum searches. Fluctuations in the volume of Bitcoin searches and related terms are considered by many traders as a barometer of market sentiment.

In addition to the continued success of Bitcoin, new summits of all time recently, many attribute the research volume influx to the recent resolution of the Bitcoin Scale Debate and alleviate fears related to a difficult range. The flexible range included resolving Bitcoin's most significant fundamental uncertainty, reaffirming its status as a primary cryptocurrence project.

Research for Ethereum appears to be correlated with Bitcoin

The decline in Ethereum's research was likely the result of several factors - including Bitcoin's cryptocurrence dominance, recent hacks on the Ethereum network that serve the interests of individuals outside the cryptocurrence sphere, Failure of the highly anticipated 'delay' Event (Ethereum overtaking Bitcoin in market cap). The decrease in search volume also results in several months of recurrent search volume, which makes the likelihood of an imminent reduction in search traffic very high.

The reverse correlation for "Bitcoin" and "Ethereum" search traffic appears to correlate with the total market capital of the cryptocurrence market as a whole.

Do you think Google search trends can be an accurate representation of the dynamics in the Bitcoin and Ethereum markets?