{"id":193,"date":"2014-07-05T09:21:00","date_gmt":"2014-07-05T09:21:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/four-charts-suggest-bitcoin-value-next-year\/"},"modified":"2023-01-08T14:16:14","modified_gmt":"2023-01-08T12:16:14","slug":"four-charts-suggest-bitcoin-value-next-year","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2014\/07\/four-charts-suggest-bitcoin-value-next-year.html","title":{"rendered":"Four charts that suggest Bitcoin value could be at 10,000 USD next year"},"content":{"rendered":"
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\u00a0down too: Litecoin<\/a>, Peercoin<\/a> and your beloved Dogecoin<\/a> are all in a steady slide to the drain of the cryptocurrency world. But looking at the charts below, many would argue that Bitcoin<\/a> is up for a new rise to 10,000 USD. This recent bubble wasn\u2019t the first bubble, and it won\u2019t be the last for Bitcoin.<\/div>\n
<\/div>\n
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<\/a> 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.<\/div>\n
<\/div>\n
To see this trend in action, we have to display the price on a logarithmic scale. This is useful for values that grow exponentially.
\nThe chart below shows us the Bitcoin\/USD value over the same 2013-2104 period on a logarithmic scale.<\/div>\n
<\/div>\n
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<\/strong>. For this the value only has to continue its trend. Following the full 2012-2014 chart on bitcoinwisdom<\/a>, one can see continious valleys followed by spikes. We are currently in a valley, which\u00a0is very good news. What will be the value in 2015? The chart below takes an educated guess:<\/div>\n

Google Trends on\u00a0Bitcoin<\/h2>\n
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 \u2018Bitcoin\u2019 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<\/a>.<\/div>\n
<\/div>\n
Does this mean more user interest increases the price? Or does a higher price generate more user interest? We can\u2019t 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<\/a>,\u00a0the number of current Bitcoin users has hardly reached more than one million yet. Bitcoin is at it\u2019s very infancy.<\/div>\n
\n

\u201cBitcoin 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\u2019t quite ready for the consumer phase, where end users begin to utilize the services. If the entire history of Bitcoin was a clock, we\u2019re still in the very early time. I would say were maybe in the second second of the entire history.\u201d Nicholas Cary, CEO of Blockchain.info (source)<\/a><\/em><\/p><\/blockquote>\n<\/div>\n

The next jump in price could\u00a0be ignited\u00a0by\u00a0the Winklevoss brothers\u00a0bringing Bitcoin to the Nasdaq<\/a>,\u00a0or by the SecondMarket\u00a0Bitcoin Investment Trust<\/a> handing over Wall Street dollars. But wherever it comes from, the charts are definitely bullish.\u00a0My advice is simple. Buy now, and wait.<\/div>\n
<\/div>\n
\n

Disclaimer: The (funny) definition of an economist is \u201cSomeone that can use economic theory today to explain why he got all his predictions wrong yesterday\u201c. The market is unpredictable and I can\u2019t always be right<\/i><\/p>\n<\/div>\n

Open your free digital wallet here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n","protected":false},"excerpt":{"rendered":"

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\u00a0down too: Litecoin, Peercoin and your beloved Dogecoin are all in a steady slide to the drain of the cryptocurrency world. But looking at the […]<\/p>\n","protected":false},"author":1,"featured_media":711,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,37,76,77,192],"tags":[712,764,765,872],"yoast_head":"\nFour charts that suggest Bitcoin value could be at 10,000 USD next year -<\/title>\n<meta name=\"description\" content=\"Get the latest updates and insights on Bitcoin with HolyTransaction's blog. 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