Bitcoin’s peak, barely.
https://x.com/pete_rizzo//
As I wrote in Forbes in 2021the world is waking up to a new reality regarding Bitcoin – the unexpected fact that Bitcoin’s programming has cyclical effects on its economy.
This has led to at least 4 distinct market cycles, where Bitcoin has been labeled a bubble, skeptics have raised their hands, and each time, Bitcoin has recovered more or less 4 years later to hit all-time highs above the “highs.” ” previously. “Evaluation.
I personally watched the price of Bitcoin rise from $50 to $1,300 in 2013. Then from $1,000 to $20,000 in 2017, and I watched it rise from $20,000 to $70,000 in 2021.
So, I’m just here to mention that from my past experience, this market cycle is heating up.
For those who have been into Bitcoin, one thing that is tried and true is… Google search. Throughout my time with Bitcoin, this has been the best indicator of market strength.
Search is low, maybe you are in a bear market. Search heading to an all-time high? This means that newcomers get involved, learn about Bitcoin, and become active buyers.
Remember, this is a change of habit. Bitcoin holders are slow to shift their assets into a completely new economy. So, the Google Trends search then represents a snapshot of the Bitcoin migration. It shows how many new sovereign citizens are moving their money here.
This is something anyone who is concerned about whether the price of Bitcoin will peak in 2024 should pay attention to.
Last year saw the price of Bitcoin halving, and historically, the year following the previous halving results in higher prices. You might be tempted to think “this time is different” – not me. I look at the research and see a chart that continues to accelerate in price discovery. Trust me when I say no one I know sells Bitcoin.
As shown above, buyer interest is accelerating, and these new buyers have to buy Bitcoin from somewhere. Add in nation states, US states and the incoming Trump administration set to ease the burden on industry?
Well, I think the chart above really says it all.
This article is a takes. The opinions expressed are entirely those of the author and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.