Bitcoin barely peaks.
https://x.com/pete_rizzo_/
As I wrote Forbes in 2021the world is waking up to a new reality regarding Bitcoin – the unlikely truth that Bitcoin’s programming has cyclical effects on the economy.
This has led to at least four different market cycles where Bitcoin has been labeled a bubble, skeptics have hand-patted, and each time Bitcoin has recovered about four years later to reach new all-time highs above its previously “sky-high” value. valuation.
I personally watched Bitcoin go from $50 to $1,300 in 2013. Then from $1,000 to $20,000 in 2017, and I saw it go from $20,000 to $70,000 in 2021.
So I’m just here to tell you that, from my past experiences, this market cycle is only heating up.
For those who have used Bitcoin, there is one that is tried and true and that is Google Search. As long as I have been in Bitcoin, this has been the best indicator of the strength of the market.
The number of search results is low, you are probably in a bear market. Searching for record highs? This means newcomers engage, learn about Bitcoin and become active buyers.
Remember, this is a habit change. Bitcoin HODLers are moving their assets more slowly into an entirely new economy. The Google Trends search thus represents a snapshot of Bitcoin immigration. It shows how many new sovereign citizens are moving their money here.
And it’s something that anyone concerned about whether Bitcoin’s price will peak in 2024 should pay attention.
Last year saw Bitcoin’s halving, and historically the year after previous halvings has led to price increases. You may be tempted to think, “This time it’s different” – I’m not. I’m looking at search and I see a graph that continues to accelerate towards price discovery. Believe me when I say that no one I know sells Bitcoin.
As shown above, buyer interest is increasing and these new buyers have to buy that Bitcoin from somewhere. Add to that nation states, US states and an incoming Trump administration that will ease the burden on the industry?
Well, I think the above diagram pretty much says it all.
This article is a To take. The opinions expressed are solely those of the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.