LitecoinPeercoin and your beloved Dogecoin are all in a steady slide to the drain of the cryptocurrency world. But looking at the charts below, many would argue that Bitcoin is up for a new rise to 10, USD.
You see that tiny top in April ? It was playing out on a lower price level, but the percentage rise was equally big.
Google Trends on Bitcoin
All start with a slow rise in price, then a parabolic jump to the top, and the inevitable crash and rebound. At the end of every bitcoin bubble, the value is about 2x higher than what it was. To see this trend in action, we have to display the price on a logarithmic scale. This is useful for values that grow exponentially.
Bitcoin price chart in USD on a logarithmic scale. I stress that this is the very same chart, but on a different scale.
If we make a similar jump inwe come to the crazy price of 10, per bitcoin. For this the Bitcoin value only has to continue its trend. What will be the value in ? The chart below takes an educated guess: Google trends shows us how popular a keyword is. The resulting chart of user interest shows peaks and valleys corresponding in time with the peaks of the price, as can be seen in the excellent research in this forum post. Or does a higher price generate more user interest?
We are currently in a valley of user interest, which means another top is in the make. The first years of Bitcoin were about building the infrastructure.
BTCUSD Crypto Chart
Bitcoin entrepreneurs were busy setting up the most basic but fundamental aspects, including wallet and mining services. Today, Bitcoin is just starting to enter the investment phase, where venture capitalist, hedge funds and other financial firms are starting to invest money and capital into this nascent technology. I would say were maybe in the second second of the entire history.
But wherever it comes from, the charts are definitely bullish. My advice is simple. Buy now, and wait.