In the King James Version (KJV) bible, there are two source references which we can review in respect of the use of the phrase Holy Spirit and Holy Ghost respectively. 

The translators of the KJV used the word “spirit” 456 times, in the following verses:

Old Testament

Ge 1:2; Ge 6:3; Ge 41:8,38; Ge 45:27; Ex 6:9; Ex 28:3; Ex 31:3; Ex 35:21,31; Le 20:27; Nu 5:14,30; Nu 11:17,25-26,29; Nu 14:24; Nu 24:2; Nu 27:18; De 2:30; De 34:9; Jos 5:1; Jg 3:10; Jg 6:34; Jg 9:23; Jg 11:29; Jg 13:25; Jg 14:6,19; Jg 15:14,19; 1Sa 1:15; 1Sa 10:6,10; 1Sa 11:6; 1Sa 16:13-16,23; 1Sa 18:10; 1Sa 19:9,20,23; 1Sa 28:7-8; 1Sa 30:12; 2Sa 23:2; 1Ki 10:5; 1Ki 18:12; 1Ki 21:5; 1Ki 22:21-24; 2Ki 2:9,15-16; 1Ch 5:26; 1Ch 10:13; 1Ch 12:18; 1Ch 28:12; 2Ch 9:4; 2Ch 15:1; 2Ch 18:20-23; 2Ch 20:14; 2Ch 21:16; 2Ch 24:20; 2Ch 33:6; 2Ch 36:22; Ezr 1:1,5; Ne 9:20,30; Job 4:15; Job 6:4; Job 7:11; Job 10:12; Job 15:13; Job 20:3; Job 21:4; Job 26:4,13; Job 27:3; Job 32:8,18; Job 33:4; Job 34:14; Ps 31:5; Ps 32:2; Ps 34:18; Ps 51:10-12,17; Ps 76:12; Ps 77:3,6; Ps 78:8; Ps 104:30; Ps 106:33; Ps 139:7; Ps 142:3; Ps 143:4,7,10; Pr 1:23; Pr 11:13; Pr 14:29; Pr 15:4,13; Pr 16:18-19,32; Pr 17:22,27; Pr 18:14; Pr 20:27; Pr 25:28; Pr 29:23; Ec 1:14,17; Ec 2:11,17,26; Ec 3:21; Ec 4:4,6,16; Ec 6:9; Ec 7:8-9; Ec 8:8; Ec 10:4; Ec 11:5; Ec 12:7; Isa 4:4; Isa 11:2; Isa 19:3,14; Isa 26:9; Isa 28:6; Isa 29:4,10,24; Isa 30:1; Isa 31:3; Isa 32:15; Isa 34:16; Isa 38:16; Isa 40:7,13; Isa 42:1,5; Isa 44:3; Isa 48:16; Isa 54:6; Isa 57:15-16; Isa 59:19,21; Isa 61:1,3; Isa 63:10-11,14; Isa 65:14; Isa 66:2; Jer 51:11; Eze 1:12,20-21; Eze 2:2; Eze 3:12,14,24; Eze 8:3; Eze 10:17; Eze 11:1,5,19,24; Eze 13:3; Eze 18:31; Eze 21:7; Eze 36:26-27; Eze 37:1,14; Eze 39:29; Eze 43:5; Da 2:1,3; Da 4:8-9,18; Da 5:11-12,14; Da 6:3; Da 7:15; Ho 4:12; Ho 5:4; Joe 2:28-29; Mic 2:7,11; Mic 3:8; Hag 1:14; Hag 2:5; Zec 4:6; Zec 6:8; Zec 7:12; Zec 12:1,10; Zec 13:2; Mal 2:15-16;

New Testament

Mt 3:16; Mt 4:1; Mt 5:3; Mt 10:20; Mt 12:18,28,43; Mt 14:26; Mt 22:43; Mt 26:41; Mr 1:10,12,23,26; Mr 2:8; Mr 3:30; Mr 5:2,8; Mr 6:49; Mr 7:25; Mr 8:12; Mr 9:17,20,25-26; Mr 14:38; Lu 1:17,47,80; Lu 2:27,40; Lu 4:1,14,18,33; Lu 8:29,55; Lu 9:39,42,55; Lu 10:21; Lu 11:13,24; Lu 13:11; Lu 23:46; Lu 24:37,39; Joh 1:32-33; Joh 3:5-6,8,34; Joh 4:23-24; Joh 6:63; Joh 7:39; Joh 11:33; Joh 13:21; Joh 14:17; Joh 15:26; Joh 16:13; Ac 2:4,17-18; Ac 5:9; Ac 6:10; Ac 7:59; Ac 8:29,39; Ac 10:19; Ac 11:12,28; Ac 16:7,16,18; Ac 17:16; Ac 18:5,25; Ac 19:15-16,21; Ac 20:22; Ac 21:4; Ac 23:8-9; Ro 1:4,9; Ro 2:29; Ro 7:6; Ro 8:1-2,4-5,9-11,13-16,23,26-27; Ro 11:8; Ro 12:11; Ro 15:19,30; 1Co 2:4,10-12,14; 1Co 3:16; 1Co 4:21; 1Co 5:3-5; 1Co 6:11,17,20; 1Co 7:34,40; 1Co 12:3-4,7-9,11,13; 1Co 14:2,14-16; 1Co 15:45; 1Co 16:18; 2Co 1:22; 2Co 2:13; 2Co 3:3,6,8,17-18; 2Co 4:13; 2Co 5:5; 2Co 7:1,13; 2Co 11:4; 2Co 12:18; Ga 3:2-3,5,14; Ga 4:6,29; Ga 5:5,16-18,22,25; Ga 6:1,8,18; Eph 1:13,17; Eph 2:2,18,22; Eph 3:5,16; Eph 4:3-4,23,30; Eph 5:9,18; Eph 6:17-18; Php 1:19,27; Php 2:1; Php 3:3; Col 1:8; Col 2:5; 1Th 4:8; 1Th 5:19,23; 2Th 2:2,8,13; 1Ti 3:16; 1Ti 4:1,12; 2Ti 1:7; 2Ti 4:22; Phm 25; Heb 4:12; Heb 9:14; Heb 10:29; Jas 2:26; Jas 4:5; 1Pe 1:2,11,22; 1Pe 3:4,18; 1Pe 4:6,14; 1Jo 3:24; 1Jo 4:1-3,6,13; 1Jo 5:6,8; Jude 19; Re 1:10; Re 2:7,11,17,29; Re 3:6,13,22; Re 4:2; Re 11:11; Re 14:13; Re 17:3; Re 18:2; Re 19:10; Re 21:10; Re 22:17.

The term “spirit” in the Old Testament is a translation of the Ivrity (Hebrew) word Ruach (רוּחַ) H7307.

Ruach is a feminine noun taken from the verb Ruach (רוּחַ) which is the primitive root; meaning properly, to blow, i.e. breathe; only (literally) to smell or (by implication, perceive (figuratively, to anticipate, enjoy). Its usage in English translations have included: to accept, to smell, to touch, or to make of quick understanding.

Ruach as a feminine noun means wind; by resemblance breath, i.e. a sensible (or even violent) exhalation; figuratively, life, anger, unsubstantiality; by extension, a region of the sky; by resemblance spirit, but only of a rational being (including its expression and functions). Its usage in English translations have included: air, anger, blast, breath, cool, courage, mind, quarter, side, spirit or spiritual, tempest, vain, a whirlwind, or windy.

The phrase “holy spirit” is found in Psalm 51:11, Isaiah 63:10, and Isaiah 63:11 in the Old Testament.

The phrase is interchangeable with the phrase “holy ghost” in the New Testament, but the phrase “holy spirit” is found only in Luke 11:13, Ephesians 1:13, Ephesians 4:30, and 1 Thessalonians 4:8 and in all cases is an alternative to the same Greek phrase translated as “holy ghost”.

The phrase “holy ghost” is found in the following verses in the New Testament:

Matt 1:18,20; Matt 3:11; Matt 12:31-32; Matt 28:19; Mar 1:8; Mar 3:29; Mar 12:36; Mar 13:11; Lu 1:15,35,41,67; Lu 2:25-26; Lu 3:16,22; Lu 4:1; Lu 12:10,12; Joh 1:33; Joh 7:39; Joh 14:26; Joh 20:22; Ac 1:2,5,8,16; Ac 2:4,33,38; Ac 4:8,31; Ac 5:3,32; Ac 6:3,5; Ac 7:51,55; Ac 8:15,17-19; Ac 9:17,31; Ac 10:38,44-45,47; Ac 11:15-16,24; Ac 13:2,4,9,52; Ac 15:8,28; Ac 16:6; Ac 19:2,6; Ac 20:23,28; Ac 21:11; Ac 28:25; Ro 5:5; Ro 9:1; Ro 14:17; Ro 15:13,16; 1Co 2:13; 1Co 6:19; 1Co 12:3; 2Co 6:6; 2Co 13:14; 1Th 1:5-6; 2Ti 1:14; Tit 3:5; Heb 2:4; Heb 3:7; Heb 6:4; Heb 9:8; Heb 10:15; 1Pe 1:12; 2Pe 1:21; 1Jo 5:7; Jude 20.

The word “spirit” is an interesting word. What does it mean in the English language?

According to the Oxford English Dictionary, https://www.oed.com/dictionary/spirit_n?tab=meaning_and_use#21467536, the meaning of the word spirit is as follows:

I. An animating or vital principle; the immaterial or sentient element of a person.

               I.i An animating or vital principle; the soul; incorporeal or immaterial being.

I.i.1.a. a1325 - The animating or vital principle in humans and animals; that which gives life to the body, in contrast to its purely material being; the life force, the breath of life.

II. An incorporeal, supernatural, rational being, and extended uses.

II.10.a. c1350 - An incorporeal, supernatural, rational being, of a type usually regarded as imperceptible to humans but capable of becoming visible at will, and frequently (esp. in early use) conceived as terrifying, troublesome, or hostile to humankind. Often with modifying word or phrase indicating the nature or character of the being, or the context or environment with which it is associated. Often with the, denoting a particular being.

According to the Latin Dictionary, http://latindictionary.wikidot.com/noun:spiritus, the word spiritu spiritus means Breath, Breathing; Breeze, Air; Inspiration; Character, Arrogance.

For those of you who study Latin:

The Greek word translated by the KJV interpreters as “ghost” is the word pneûma (πνεῦμα) G4151. This neuter noun is from the primary verb pnéō (πνέω), which means to breathe hard, i.e. breeze, or to blow.

The word pneûma (πνεῦμα) means a current of air, i.e. breath (blast) or a breeze; by analogy or figuratively, a spirit, i.e. (human) the rational soul, (by implication) vital principle, mental disposition, etc., or (superhuman) an angel, demon, or (divine) God, Christ's spirit, the Holy Spirit:—ghost, life, spirit(-ual, -ually), mind.

We are instructed to compare this word with G5590, which is the word (ψυχή) psychḗ, a word taken from G5594, which is the word (ψύχω)psýchō, a primary verb, which means to breathe (voluntarily but gently, thus differing on the one hand from G4154, which denotes properly a forcible respiration; and on the other from the base of G109, which refers properly to an inanimate breeze), i.e. (by implication, of reduction of temperature by evaporation) to chill (figuratively): i.e., to wax cold.

Thus the word (ψυχή) psychḗ means breath, i.e. (by implication) spirit, abstractly or concretely (the animal sentient principle only; thus distinguished on the one hand from G4151, which is the rational and immortal soul; and on the other from G2222, which is mere vitality, even of plants: these terms thus exactly correspond respectively to the Hebrew H5315, H7307 and H2416):—heart (+ -ily), life, mind, soul, + us, + you.  

The Oxford English Dictionary also defines the word ghost: https://www.oed.com/dictionary/ghost_n?tab=meaning_and_use#3149330

noun:

I. An animating or vital principle; a person's spirit or soul.

I.1. Old English - The animating or vital principle in humans and animals; that which gives life to the body, in contrast to its purely material being; the life force, the breath of life. Now rare except in expressions relating to death, esp. to give up the ghost.

There appears to be a common thread here in respect of the Hebrew word Ruach, the Greek word pneuma, the Latin word spiritu, and the English words spirit and ghost, as they all refer to the breath.

However, by using the term Spirit or Ghost, which are only implied meanings of these words, we find the ambiguity which could render a conclusion that we are discussing Oxford’s second definition, namely, an incorporeal, supernatural, rational being, of a type usually regarded as imperceptible to humans but capable of becoming visible at will, and frequently (esp. in early use) conceived as terrifying, troublesome, or hostile to humankind.

How much of the usage of these terms is as a result of our conclusions based upon our inferences taken from exploited implications?

One last point, before we discuss the usage in the Cepher edition titled The Way, the Truth, and the Life:

The word “ghost” also appears in the Old Testament, some 23 times, and it is translated as ghost from the Ivriyt word gâvaʻ (גָּוַע) H1478. This word is a primitive root meaning to breathe out, i.e. (by implication) to expire: i.e., to die, be dead, give up the ghost, or perish.

In The Way, the Truth, and the Life, we use the phrase “sacred breath” in lieu of “holy spirit” or “holy ghost”. There are several reasons.

First, the overwhelming meaning of the terms ruach and pneuma are associated with the breath, the act of breathing, or breathing. To use the word “spirit” or “ghost” is to imply a phantom or phantasma, and would be more consistent with the Ivriyt word tselem:

tselem (צֶלֶם) H6754 is a word from an unused root meaning to shade; a phantom, i.e. (figuratively) illusion, resemblance; hence, a representative figure, especially an idol.

There are two more words which are at issue before we enter into discussion. These are the two words which have been previously translated as “holy”, namely the Ivriyt word (קֹדֶשׁ) qadosh, and the Greek word (ἅγιος) hágios.

qâdôwsh (קָדוֹשׁ) H6918 or קָדֹשׁ qâdôsh is a word derived from H6942, (קָדַשׁ) qâdash, which is a primitive root meaning to be (causatively, make, pronounce or observe as) clean (ceremonially or morally).

Qadosh means sacred (ceremonially or morally); (as noun) God (by eminence), an angel, a saint, a sanctuary. Its common translation is the word “holy”, the holy one, or saint.

hágios (ἅγιος) G40 is an adjective which comes from ἅγος hágos (meaning an awe-full thing) (compare G53, G2282); sacred (physically, pure, morally blameless or religious, ceremonially, consecrated). Common usage in translation is holy, most holy, holy one or holy thing, or saint.

Therefore, in discussing the phrases “holy spirit” or “holy ghost” the Cepher edition of The Way, the Truth, and the Life uses the phrase Sacred Breath.

One additional comment concerning these words. We find in the words Ruach and Pneuma a construct claiming that these words refer to the rational soul (i.e., the consciousness). While this idea is not found in the plain meaning of the word, it can be rationalized. It is for this reason that we use a capital letter B to begin the word, to set it apart from merely breathing or taking a breath of fresh air.