Bitcoin #4: Google trends and mvrv-zscore

I’m looking at Google trends and the MVRV Z-Score for signs of a top.

Google trends
“Numbers represent search interest relative to the highest point on the chart for the given region and time. A value of 100 is the peak popularity for the term. A value of 50 means that the term is half as popular. A score of 0 means there was not enough data for this term.”

The trends for the search term bitcoin has not yet surpassed the previous top in 2017.

The MVRV Z-score hasn’t entered the pink area.

My interpretation is that Bitcoin has not topped yet for this cycle. I keep monitoring these indicators.

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