Bitcoin's Hype Cycle Is Just Getting Started!

A few months ago I remember hearing from @Crypt0 that a Bitcoin expert looked at the logarithmic growth of Bitcoin and suggested that we are just getting started on this next price spike. I think he was right after all!

(Source https://99bitcoins.com/price-chart-history/)

By the way I got this information from 99bitcoins.com they are a fantastic news and information source I suggest you check them out if you have some free time.

So in this chart I circled some of the bigger hype cycles that Bitcoin went through. You can also look at what historical events took place at that time:

• Event 1: BTC spikes from about $0.06 up to over $0.30

• Event 2: BTC jumps from less than $0.70 to over $31 in two months after an article about Silk Road is published and as MTGOX and other exchanges grew.

• Event 3: BTC spikes again to over $181 from $13 in only three months after Cyprus experiences economic problems along with other parts of Europe. MTGOX volumes at all-time highs.

• Event 4: Bitcoin hit all-time highs again trading at over $1242, up from a low of around $70 only 4 months prior, on MTGOX due mainly to increased international interest in cryptocurrency and Bitcoin Mania (partly due to market manipulation).

We are currently sitting in that final bubble on the right. I think that we have seen a more slow and steady adoption of BTC which is probably healthier overall but we have yet to experience the kinds of growth Bitcoin is capable of. We could be looking at $5-6K BTC by the year's end if we continue on this bull run. A pull back is to be expected but is natural and needed for more growth to occur.

What do you all think about the situation and do you think we are already in the bubble or just getting started? Please remember to follow, upvote and leave a comment down below :)

*Never invest more than you are willing to lose and always do your own research before making any investment decisions.

Please check out my latest posts:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-forecast-8-8-2017

https://steemit.com/bitcoincash/@hotsauceislethal/bitcoincash-price-forecast-8-7-2017

AND NEVER TRADE WITH FOMO:
https://steemit.com/bitcoin/@hotsauceislethal/how-to-conquer-fomo-fear-of-missing-out

Happy Trading :)!!!