Four charts that suggest Bitcoin value could be at 10,000 USD next year

Four charts that suggest Bitcoin value could be at 10,000 USD next year

(CryptoCoinsNews) Has the Bitcoin Value
bubble burst? Looking at the most recent prices, we seem readier for a
gentle nosedive than a new rollercoaster ride to the top. Many altcoins
are heading down too: Litecoin, Peercoin 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 10,000 USD. This recent bubble wasn’t the first bubble, and
it won’t be the last for Bitcoin.
Bitcoin price chart in USD
Bitcoin price in USD from begin 2013 to June 2014.
You see that tiny top in April 2013? That was a bubble just like the
most recent big one. It was playing out on a lower price level, but the
percentage rise was equally big. There have been more bubbles in
markets ever since markets were invented. 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. Every time.
To see this trend in action, we have to display the price on a
logarithmic scale. This is useful for values that grow exponentially.
The chart below shows us the Bitcoin/USD value over the same 2013-2104
period on a logarithmic scale.
Long-term Bitcoin price in USD (logarithmic scale)
Bitcoin price chart in USD on a logarithmic scale.
This is the very same chart, but on a different scale. You can see
exponential growth, more or less stable over the years. In 2012 the
price grew from $5 to $13. In 2013 from $13 to $800. If we make a
similar jump in 2014, we come to the (crazy) price of 10,000 per bitcoin. For this the value only has to continue its trend. Following the full 2012-2014 chart on bitcoinwisdom,
one can see continious valleys followed by spikes. We are currently in a
valley, which is very good news. What will be the value in 2015? The chart below takes an educated guess:
Bitcoin price prediction for 2015
Bitcoin price prediction for 2015

Google Trends on Bitcoin

The fact that we are in a valley is confirmed by Google. Google
trends shows us how popular a keyword is. It tracks the number of
searches for ‘Bitcoin’ and other keywords, and displays that in a graph
over time. 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.
Google searches for 'Bitcoin' chart
Google searches for ‘Bitcoin’
Does this mean more user interest increases the price? Or does a
higher price generate more user interest? We can’t be sure, but it is
clear that they go well together. We are currently in a valley of user
interest, which means another top is in the make. Bitcoin news is
widespread, but how many people do you know that own one? According to wallet counts, the number of current Bitcoin users has hardly reached more than one million yet. Bitcoin is at it’s very infancy.

“Bitcoin is still in the earliest phases of industry
development. The first years of Bitcoin were about building the
infrastructure. 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. Bitcoin isn’t
quite ready for the consumer phase, where end users begin to utilize the
services. If the entire history of Bitcoin was a clock, we’re still in
the very early time. I would say were maybe in the second second of the
entire history.” Nicholas Cary, CEO of Blockchain.info (source)

The next jump in price could be ignited by the Winklevoss brothers bringing Bitcoin to the Nasdaq, or by the SecondMarket Bitcoin Investment Trust handing
over Wall Street dollars. But wherever it comes from, the charts are
definitely bullish. My advice is simple. Buy now, and wait.

Disclaimer: The (funny) definition of an economist is “Someone that can use economic theory today to explain why he got all his predictions wrong yesterday“. The market is unpredictable and I can’t always be right

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
Satoshi

4 thoughts on “Four charts that suggest Bitcoin value could be at 10,000 USD next year

Mark J. GuillenPosted on  11:06 am - Aug 24, 2015

If this is so then investing in bitcoin is quite beneficial and the ones who has already invested in it are smart.

Mark J. GuillenPosted on  10:33 am - Aug 31, 2015

If this is so then investing in bitcoin is quite beneficial and the ones who has already invested in it are smart.

JainnPosted on  6:31 am - Jun 22, 2017

saved to my bookmarks.

Earn BitcoinPosted on  5:21 am - Jun 23, 2017

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