BITCOIN: Popularity and Price
Where are we in this chart?
This is a chart I used to check recurrently.
It could be ascribed to any market cycle on which "bubles" are recurrent. It is the case of crypto indeed and its related whith the popularity of an asset as well.
The popularity of bitcoin continues to grow apace.
Interest over time on BITCOIN continues to grow. In fact, the value is quite high if we look at the indicator of the last 90 days.
Despite this, we are still very far from the popularity values reached at the end of 2017.
Why this?
Being BITCOIN very close to its ATH as we are now, everyone would think that its popularity should be similar or higher, right?
This fact might at first seem like a sign of weakness but I don't think it is.
In fact, I think it is just the opposite, large investors and institutions are really positioning themselves in the market, most of the purchases lately we could assign to this group of few members.
However, the great mass is still excluded here, possibly because the great majority are affected by the general crisis as the pandemic.
The popularity therefore is not yet influenced by the price, so I think we are in a great accumulation period yet.
And if we still are, it is possible that these price levels or those a little lower are the ground from which to take off.
I do not expect therefore a big recession in the price although, a Bear trap at levels between 12000 and 14000 could have their importance in the face of an eventual correction in the short term that would launch BTC towards the Media Attention phase on the first chart an so to the "Mania Phase" of the horizontal Axis.
As a conclusion, the "popularity" of an asset does not have to be related to its price, but its trend is possibly a good indicator to confirm which market we are in.
Awarenes phase might be reaching the end now... what would be the next step?
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
En la parte alta tenia que poner "capullos"
Esperemos que no seamos nosotros mismos :-)
Para el contexto me refiero ademas de entrar mal, tendriamos que entrar por pura codicia sin saber nada sobre lo que es Bitcoin para que y que viene a resolver/aportar. Exclusivamente para hacer dinero con "algo ni puta idea que es ni me importa"
Asi que no podremos serlo 😉
You may find these information helpful:
There's a lot of money coming into BTC and soon we will see major institutions offering BTC purchases to everyday people. They are likely to have at least soem reserves. I have no plans to buy BTC though. I prefer to stick with the alts even though I expect them to under perform during the BTC rally. I like the kind of passive income I'm getting on HIVE, @splinterlands cards etc.
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It is going to be more and more difficult to buy BTC, possibly buying alt could be a good strategy as well, waiting for the pump
Don't forget all the money that could trickle down from BTC investment or simply as a side effect of renewed interest in cryptocurrency. Not everyone is going to cash out into fiat when they think BTC has peaked.
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I think we're somewhere between take off and sell off.
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hahhahah! for sure!
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I meant between take off and first sell off/bear trap 😁. I kind of was right with the first statement as well...
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We are climbing toward the greed point.
!BEER
yep, could be... GREED indicator is already at 90%!
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View or trade
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BEER.Hive is shit- and Steem's course is soon 50% higher than HIVE's. And are you all still happy here ? You have been lured here by a gang of power obsessed witnesses, who only wanted to enrich themselves and also have been lured here on the chain that is doomed to perdition.
Thank the Nazi witness @pfunk that there is spam. It's his fault because he flagged a social project that made a few cents. This is just the beginning I have 300 accounts but unfortunately the bots on your shitty chain don't buy the bots properly. 5 months ago you flagged one account to a non-profit organization - 4. This time I'm not giving up, I'm getting hundreds of accounts and I'm also taking money to buy or lease stakes. Megalomaniac witnesses like you will destroy HIVE. Because of me the first HIVE are leaving, including some medium sized Stak Holder.
I don't catch why you keep this desparate efforts here...if you don't like HIVE then you can go back steem.
https://twitter.com/thecryptorunner/status/1328381742466600962
Man, I know this chart since 2009 and have used it many times. But, to be honest, currently, I can figure out where we are. Probably in the early "Stealth Phase" (the early take-off).
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Still there? wow!!! we are not going to the moon but th Jupiter instead ;-)
This is just my point of view.
We must be at the take off stage. Cause the price seems to be taking off. And no first sell off yet, it seems.
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I would say we might be in the enthusiasm stage, having in mind my pessimistic projection of Bitcoin rise until the end of this year is doubled already:
https://hive.blog/bitcoin/@lighteye/bitcoin-price-projection-for-2020