{"id":1912,"date":"2024-11-21T16:16:59","date_gmt":"2024-11-21T16:16:59","guid":{"rendered":"https:\/\/digkrypton.com\/index.php\/2024\/11\/21\/the-chart-that-shows-bitcoins-bull-run-wont-stop-at-100000\/"},"modified":"2024-11-21T16:16:59","modified_gmt":"2024-11-21T16:16:59","slug":"the-chart-that-shows-bitcoins-bull-run-wont-stop-at-100000","status":"publish","type":"post","link":"https:\/\/digkrypton.com\/index.php\/2024\/11\/21\/the-chart-that-shows-bitcoins-bull-run-wont-stop-at-100000\/","title":{"rendered":"The Chart That Shows Bitcoin\u2019s Bull Run Won\u2019t Stop at $100,000"},"content":{"rendered":"

Peak Bitcoin, hardly. <\/p>\n

Follow Rizzo on X.<\/p>\n

https&colon;&sol;&sol;x&period;com&sol;pete&lowbar;rizzo&lowbar;&sol;<\/p>\n

As I wrote in Forbes in 2021<\/a>, the world is waking up to a new reality in regards to Bitcoin \u2013 the unlikely truth that Bitcoin\u2019s programming has cyclical effects on its economy. <\/p>\n

This has led to at least 4 distinct market cycles where Bitcoin has been branded a bubble, skeptics have rung their hands, and each time, Bitcoin recovers more or less 4 years later to set new all-time highs above its previously \u201csky-high\u201d valuation. <\/p>\n

I personally watched Bitcoin go from $50 to $1,300 in 2013. Then, from $1,000 to $20,000 in 2017, and I watched it go from $20,000 to $70,000 in 2021. <\/p>\n

So, I\u2019m just here to relate that, from my past experience, this market cycle is just heating up. <\/p>\n

For those who have been in Bitcoin, there\u2019s one tried-and-true and that\u2019s Google Search<\/a>. As long as I\u2019ve been in Bitcoin, this has been the best indicator of the strength of the market. <\/p>\n

Search is low, you\u2019re probably in a bear market. Search heading back to all-time highs? This means new entrants are getting engaged, learning about Bitcoin, and becoming active buyers. <\/p>\n

Remember, this is a habit change. Bitcoin HODLers are slowing shifting their assets to a wholly new economy. So, Google Trends search then, represents a snapshot of Bitcoin\u2019s immigration. It shows how many new sovereign citizens are moving their money here.<\/p>\n

And it\u2019s something that all who are worried about whether bitcoin\u2019s price topping out in 2024 should pay attention to. <\/p>\n

Last year was the Bitcoin halving, and historically, the year following previous halvings has led to price appreciation. Maybe you\u2019re tempted to think, \u201cthis time is different\u201d \u2013 not me. I look at search and I see a chart that continues to accelerate into price discovery. Trust me when I say no one I know is selling bitcoin. <\/p>\n

As shown above, buyer interest is accelerating, and these new buyers have to buy that Bitcoin from somewhere. Add nation states, US states, and a coming Trump administration set to ease the burden on the industry? <\/p>\n

Well, I think the chart above says it all really.\u00a0<\/p>\n

This article is a <\/em>Take<\/em><\/a>. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.<\/em><\/p>","protected":false},"excerpt":{"rendered":"

Peak Bitcoin, hardly. Follow Rizzo on X. https&colon;&sol;&sol;x&period;com&sol;pete&lowbar;rizzo&lowbar;&sol; As I wrote in Forbes in 2021, the world is waking up to a new reality in regards to Bitcoin \u2013 the unlikely truth that Bitcoin\u2019s programming has cyclical effects on its economy. This has led to at least 4 distinct market cycles where Bitcoin has been […]<\/p>\n","protected":false},"author":0,"featured_media":1913,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-1912","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=1912"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/1913"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=1912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=1912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=1912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}