The "Elvis Bitcoin Price Predictor" TM
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Background and Rationale of The "Elvis Bitcoin Price Predictor" TM
It may sound funny, but it is a remarkably good price change indicator. When search interest in the term "Bitcoin" (Blue Line) exceeds the search interest norm for the term "Elvis" (Red Line) it is a strong indicator of price movement.
When "Bitcoin" searches exceed the norm of searches for "Elvis" the price of Bitcoin has historically moved strongly higher. As compared to other popular search terms, searches for "Elvis" have a particular scale of public fame and uniformity such that when Bitcoin searches exceed the norm of searches for Elvis the comparison has historically provided an especially relevant scale correlating with times when public interest in Bitcoin is breaking out. It seems search interest exceeding "Elvis" is an effective indicator of when the public has Bitcoin on it's mind in such a way that correlates with Bitcoin price movement.
June 2015 is a good example of the Elvis bitcoin Search Price Predictor TM correlation to price movement
Note the correlation to the historic price swings of Bitcoin.
Origin of the "Elvis Bitcoin Price Predictor"
Back in 2014 when I got interested in trying to figure out what indicators there might be for Bitcoin popular adoption and price movement, I realized that public interest in Bitcoin would coincide with price pressure. Google search interest was an obvious place to look for signs of public interest, but the Google search interest results are without scale. I therefore sought and tried numerous comparative search terms as a "scale" of popular interest. The comparative term had to be well established and popular today but not recent because it had to have historical regularity in its search popularity. Therefore the latest band or fad wouldn't work. It also had to be somewhat popular but not TOO popular or it wouldn't scale correctly with enough detail when compared against searches for "Bitcoin". It also had to be a term that stood alone and that wasn't popular in a lot of unrelated phrases that might independently peak and lul in search popularity. After a series of popular cultural icon guesses like "Beatles", "Gold", "Sinatra", "Money", "Taxes", "sex" (WAY too popular!) it turned out "Elvis" was the perfect comparative search term. "Elvis" stands alone and unique as a search term with the right historic search regularity and popularity. When searches for "Bitcoin" exceeded the norm for "Elvis" the price went up, and when they crossed back down below the search norm for "Elvis" it was a sign of the public losing widespread interest and the prices went down to more normal support levels. Thus the Elvis Bitcoin Price Predictor" was born - with a little more scientific design basis than you might first imagine!
When search interest in the term "Bitcoin" (Blue Line) exceeds the the norm of search interest in the term "Elvis" (Red Line) it is a strong indicator of price movement.
the following 30 day chart is live and shows the most recent status of "The Elvis Bitcoin Price Predictor" TM
Please be patient while the Google Search info loads:
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(Notice: the use of the image and name of "Elvis" is used under fair use grounds reflecting an actual factual correlation concerning the subjects which cannot be expressed without use of the indentifying name and likeness. It does not indicate an Endorsement by Elvis Presley or any estate holders or rights holders in Elvis Presley likenesses or name. The image itself is an informative and satirical, parody derivative of copyright free to use images located in Wikimedia commons at https://commons.wikimedia.org/wiki/File:Elvis-nixon.jpg with the official Bitcoin image https://commons.wikimedia.org/wiki/File:Bitcoin.png as made available for use without restriction and as such the combined image is published under Fair Use Exception Section 107 of the U.S. Copyright Act. The derivative combined image IS however copyright TheBestBitcoinWebsite.com ) .The "Elvis Bitcoin Price Predictor"TM method and name - copyright and trademark BestbitcoinWebsite all rights reserved - patent pending (because you can get a patent for anything these days - so why not the Elvis Bitcoin Price Predictor!.