What “Google Trends” says About Bitcoin?
As Bitcoin has risen from $1 to $20,000 many people are convinced that Bitcoin will crush the dollar and establish a new financial system. They expect that Govt & Banks will just sit there and watch Bitcoin take over the world. On the contrary, I believe the Governments and Banks are going to attack Bitcoin to bring the Crypto down. In my view, Cartel is going to do this effort in coming years using the futures market at CME. I am NOT here to predict anything. I am here to connect the dots and provide the proof on how the price manipulation works in the futures market. We are in the first inning of this game of manipulation. Let’s Go!!
Bitcoin had reached $20,000 before the CME entry. Everyone was predicting Bitcoin price from $25K to $100K to $1 Million. Anyone saying Bitcoin can fall was considered stupid. At that time, whenever I uttered a word “$10K” I was told “Go Home Kid”, “You have no freaking clue what bitcoin is”, “There are only 21M bitcoins”, “You are stupid”, “What did you have for breakfast?”….
I saw many Tweets, from October till early December of 2017, justifying the price rise using ever-increasing Google Trend for “Buy Bitcoin”. So, let’s revisit Google Trend - Shall we?
Here is the Chart that shows how Google “Buy Bitcoin” search was trending till Dec-3–2017 (couple of weeks before CME Futures stared trading Bitcoin.)
Here is the Chart of “Buy Bitcoin” as of now. Seven Weeks after CME’s entry. (Bitcoin is around $8,500 as of writing this)
This is Chart of “Buy Bitcoin With Credit Card”. They are already Maxed out. The only thing they will do now is to “Sell” to save monthly interest of 18%
This is plain “Bitcoin” search
This tells me there is absolutely NO interest left in buying Bitcoin as of now. As we fall below psychological number of 10K many people will choose to exit the market that may fall it further.
Here is my Mid-term view for Bitcoin.
— Short term: I feel BTC trends between $5,000 to $18,000.
— $20,000 is The-line-in-the-sand drawn by the Cartel.
— This is long term War and currently we are at Battle#1.
— Cartel lose Battle#1 if they lose $20,000.
— IF Cartel lose 20K, then next battle somewhere at 35K to 50K (we will visit this when 20K is broken)
— IF Cartel controls BTC for 5+ years = Bitcoin $1,000
— I will be shocked if BTC just folds here, so I expect many Rallies and Dips between $8,000 to $18,000
— For now Bitcoin 100K = Delusions of Grandeur
This is how CME’s (Futures Market) looks at December end. Bitcoin must cross 20K to reverse this trend and cause damage to the cartel.
Updated on Feb-02–2018. See that CME top here? 20K is the line-in-the-sand.
This is long term Chart soon after CME started. What does it tell you? Think this is just a coincidence?
Here is Chart of Uranium. Does it say something?
Also read my blog — Bitcoin History Repeats? Comparison 2014 vs 2018. Any similarities you see here?
Don’t get me wrong. I am not a Bitcoin Bear. I hold Bitcoin, Altcoins, Gold and Silver. I am just trying to be a realist.
Its funny that so many people are convinced that Bitcoin will crush dollar and Govt & Banks will just sit there and watch BTC takes over their money control. They need to study wars of 70 years. Bankers have not lost a single one so far…they haven’t started Bitcoin war yet. Its going to be EPIC and I am here to watch the war from the front seat.
I hold long term view that: Eventually, Gold, Silver, Bitcoin and Alts will go astronomically high. For that to happen Cartel will have to lose control over the markets.
— Bulls say Bitcoin is going from 20K → 100K →1M
— I feel Bitcoin goes from 20K → 1K → 100K → 1M (*** anytime Cartel loses control from 20K to 1K, we will reverse the path — and go straight upwards)
Following is my pinned tweet @Super_Crypto: