As Bitcoin price rises, it comes out of the shadows with more people googling the digital currency, and from that rise in interest the price seems to rise again, and so on and so on in what has been coined the “Satoshi cycle.”
Chris Burniske, a Bitcoin expert who was previously a Blockchain analyst at ARK Invest, has noted a high correlation between Bitcoin price and Google search trends for the word “Bitcoin.”
In a series of tweets, Burniske theorized that when Bitcoin price spikes, it also drives the interest of the digital currency up, and then that further interest perpetuates as it again drives the price up - something he joked was “a virtuous Satoshi cycle.”
Bitcoin hit a record high of $4,483.55 on Wednesday, and at the same time, the search for Bitcoin was also at its all time high.
Full story at http://bit.ly/2v4HB8Q
Source: CoinTelegraph
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