RATE Group | Meet Bitcoin Market’s Most Accurate Technical Indicator: Lamborghini
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Meet Bitcoin Market’s Most Accurate Technical Indicator: Lamborghini

14 Feb Meet Bitcoin Market’s Most Accurate Technical Indicator: Lamborghini

Posted at 13:06h in Bitcoin News by

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Take a break Golden Cross, bitcoin now has found a better technical indicator in Lamborghini this Valentine’s Day.

So it appears, there is a great positive correlation between the cryptocurrency’s price rise and the mention of one of the most beloved sports cars on Reddit. David Gilbert of data analysis portal ChartStar noted that both the metrics rose and fell in tandem during the bitcoin’s last bull run, giving out an unforeseeable relationship.

bitcoin, crypto, lamborghini

Lamborghini trend on social almost followed bitcoin’s bull run in 2019 | Source: ChartStar, David Gilbert

When Bitcoin Traders Win

Mr. Gilbert explained that he queried all the Reddit comments for the keyword ‘Lamborghini’ and ‘Lambo’ using Google’s dataset services. The researcher confirmed focusing on main crypto subreddits, including r/bitcoin, r/cryptocurrencies, r/ethtrader, r/dogecoin, and a handful of others.

“What I find interesting is whilst Lambo mentions clearly spike after the biggest price increase, there is…

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