In 2017, everyone talks about $10,000 as the highest price for Bitcoin. However, this leading cryptocurrency broke into the five-digit region recently. But, is it possible that the latest bitcoin prices will reach $100,000 this time?
Bitcoin exploded through $10,000 this weekend - reaching a new 2019 high at $11,251. Bitcoin has officially recovered more than 50 percent of its losses from its peak price of around $20,000.
Despite a slight increase in media visibility, interest in Bitcoin remains much lower at the moment. This is arguably creating the perfect storm to reach new peaks of all time during this market cycle.
Interest in Searching and Media Hype Still Low
Despite being able to pass the price point of $10,000, media outlets did not report Bitcoin in madness like what happened in 2017. On the contrary, many media were silent. Google search interest is also very low, with only a slight increase in recent months.
Could it be that $10,000 isn't as big as the current problem? It could be that real media madness will come on the next major milestone at the price of $100,000.
Low search interest and the media hype surrounding the recent increase in Bitcoin seems to indicate that price increases are largely due to institutional players rather than retail buyers. This might imply that, once retail investors jump back into the market, the rise in Bitcoin prices will explode.
With all estimates, Bitcoin also becomes much more unstable. In October 2018, the 10-day volatility was somehow less than the S & P 500 and Nasdaq. Bitcoin experienced this pause again in March 2019 but since then volatility has increased substantially. This tells us that the upcoming rally will be much stronger than 2017.
Bitcoin That Always Gives a Surprise
As a recapitulation, there are several aspects of the market today that indicate that the Bitcoin rally has just begun:
Overall, a low level of interest in Bitcoin even though it has passed $ 10,000 is good news, which means that bitcoin is just starting something new. Click
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