I can't see anything new or that deserves calling it names or pointing out someone who coined the term or whatever. lol
This is basically the human nature. When something different happens we look for answers and reasons.
Whenever the price of bitcoins goes up especially if it goes up by a huge amount like what happened during last month, people start looking for reasons searching here and there. These spikes in price lead to more articles created talking about bitcoins and crypto in general. Since money is what everyone is attracted to, more new people start hearing and reading about btc.
So the first thing they do is search the internet what that this is. Plus this is not a weird thing. The exact same thing happens let's say if the gold price spikes or drops for example. But it's not a cycle it's a result of the high price.
Topic: What Is Satoshi Cycle? (Read 336 times)
Being an asset with no physical state, each and everything happening with the internet connectivity will surely have some impact on the growth of bitcoin. In such a regard the growth with bitcoin continues and maybe that can be mentioned with the name of a Satoshi cycle.
This phenomenon has been known and discussed since at least 2013.
Some people even assumed that an increase of Google searches for the term "Bitcoin" indicated an upcoming rise in price. The causation is of course the other way round -- a rise in Bitcoin's price leads to an increase in Google searches for the term "Bitcoin". And I'm pretty sure that's where the cycle ends.
Some people even assumed that an increase of Google searches for the term "Bitcoin" indicated an upcoming rise in price. The causation is of course the other way round -- a rise in Bitcoin's price leads to an increase in Google searches for the term "Bitcoin". And I'm pretty sure that's where the cycle ends.
Seems like common sense, and it doesn't need a fancy term (nor would it really be a cycle, given a couple of years). It would go something like:
People buy in out of speculation -> price goes up -> people try to find out about this crazy new thing that keeps rising in price (searches) -> people buy in out of speculation.
But the reason that it's not a cycle is because the more people who get in, the less rational the newcomers are. A lot of amateur investors who are emotionally unstable join in out of FOMO, and then it eventually digs through the layers when there's another bear market.
People buy in out of speculation -> price goes up -> people try to find out about this crazy new thing that keeps rising in price (searches) -> people buy in out of speculation.
But the reason that it's not a cycle is because the more people who get in, the less rational the newcomers are. A lot of amateur investors who are emotionally unstable join in out of FOMO, and then it eventually digs through the layers when there's another bear market.
toshi Cycle is a crypto theory that denotes to a high correlation between the price of Bitcoin and internet search for Bitcoin. The term was coined by Bitcoin expert Christopher Burniske on August 2017 when Bitcoin hit a record high.
I'd say it's true, if you take a look at Google Trends: https://trends.google.com/trends/explore?q=bitcoin
I can't see that it's a cycle. If the price goes up, then it is natural for people to look for a reason. The same thing probably happens with gold, copper, dollars and other investments.
TERM OF THE DAY: Satoshi Cycle
Satoshi Cycle is a crypto theory that denotes to a high correlation between the price of Bitcoin and internet search for Bitcoin. The term was coined by Bitcoin expert Christopher Burniske on August 2017 when Bitcoin hit a record high.
So is this really true? Since Bitcoin is surging this week maybe there is also a corresponding increase in searches for Bitcoin related terms or keywords...let's see.
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