Crypto para relationship with google trends data: Bitcoin example

With the development of technology, societies began to use Internet for payments, money transfers and trade. However, the concept of digital money has been adopted by societies and has become an essential part of our lives. As a result of the combination of this digital currency concept with cryptographic structures, the currencies protected by passwords has emerged. The best example of this money was the Bitcoin, which emerged in 2008. Bitcoin, which was initially used in online games, has increased its popularity over time and has been accepted as a payment unit by many sellers. In recent years, with significant increases and decreases in the price, investors have given close attention to them. In this study, by using the Bitcoin price and the monthly data of the Google Trends data between the years 2010-2019, short and long-term interaction is tried to be revealed by using the ARDL boundary test and the direction of causality between these variables by using Toda-Yamamoto causality test is tried to be determined According to the results of the econometric analyses; it is found that there is a short and long-term interaction between Bitcoin price and Google Trends data, and a two-way causality between these variables. Therefore, as Bitcoin price increases, searching or clicking on Bitcoin on Google increases, as well as the bitcoin price increases as search or click increases.