The Predictor Impact of Web Search Media on Bitcoin Trading Volumes

Martina Matta, Ilaria Lunesu, Michele Marchesi

2015

Abstract

In the last decade, Web 2.0 services have been widely used as communication media. Due to the huge amount of available information, searching has become dominant in the use of Internet. Millions of users daily interact with search engines, producing valuable sources of interesting data regarding several aspects of the world. Search queries prove to be a useful source of information in financial applications, where the frequency of searches of terms related to the digital currency can be a good measure of interest in it. Bitcoin, a decentralized electronic currency, represents a radical change in financial systems, attracting a large number of users and a lot of media attention. In this work we studied the existing relationship between Bitcoin’s trading volumes and the queries volumes of Google search engine. We achieved significant cross correlation values, demonstrating search volumes power to anticipate trading volumes of Bitcoin currency.

Paper Citation

in Harvard Style

Matta M., Lunesu I. and Marchesi M. (2015). The Predictor Impact of Web Search Media on Bitcoin Trading Volumes . In Proceedings of the 7th International Joint Conference on Knowledge Discovery, Knowledge Engineering and Knowledge Management - Volume 1: DART, (IC3K 2015) ISBN 978-989-758-158-8, pages 620-626. DOI: 10.5220/0005618606200626

in Bibtex Style

@conference{dart15,
author={Martina Matta and Ilaria Lunesu and Michele Marchesi},
title={The Predictor Impact of Web Search Media on Bitcoin Trading Volumes},
booktitle={Proceedings of the 7th International Joint Conference on Knowledge Discovery, Knowledge Engineering and Knowledge Management - Volume 1: DART, (IC3K 2015)},
year={2015},
pages={620-626},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0005618606200626},
isbn={978-989-758-158-8},
}

in EndNote Style

TY - CONF
JO - Proceedings of the 7th International Joint Conference on Knowledge Discovery, Knowledge Engineering and Knowledge Management - Volume 1: DART, (IC3K 2015)
TI - The Predictor Impact of Web Search Media on Bitcoin Trading Volumes
SN - 978-989-758-158-8
AU - Matta M.
AU - Lunesu I.
AU - Marchesi M.
PY - 2015
SP - 620
EP - 626
DO - 10.5220/0005618606200626