American rapper Eminem (Eminem) lyrics to “Not Alike”, the ninth in his fresh album Kamikaze, mentioned bitcoin, and rapper Royce da five-nine (Royce Da 5’9’) I read this line:
Remember everybody used to bite nickel, now everybody doing bitcoin.
Some cryptoexpert considered it a landmark event, as it is accepted to believe that the price of the leading cryptocurrency sensitive to interest among the public, and in addition, bitcoin is mentioned not in the context of rapid enrichment or online trade in prohibited goods and as a mass hobby, which is being tested.
However, price movements of bitcoin is not just tied to the number of relevant searches in Google. By mid-year, according to Google Trends, the number of search queries with the word [bitcoin] has fallen by 75%. Advisor to the National Bank of the Netherlands Just van der Burgt (Joost van der Burgt) in comments to CNBC the other day said that until the beginning of this year “every time bitcoin has been in the news, whether positive or negative, its price correspondingly rose”. However, the launch of futures on bitcoin has changed this picture, “without giving the cryptocurrency bubble to get to the level where he would be completely exhausted”.
Recalling the hypothesis of financial instability, put forward by economist Hyman Minsky (Hyman Minsky) and emit in the development of the “bubble” stage of substitution, boom, euphoria, profit withdrawal and panic, Just van der Burgt concluded that bitcoin almost reached the stage of panic.
Recall that last year known cryptosuite investor, a trader and enthusiast of cryptocurrency Willie Wu (Willy Woo) in the course of his study based on data from Google Trends came to the conclusion that the number of users of bitcoins doubles every year. And he recently said that, in his opinion, correction of bitcoin in 2018 will not repeat the collapse that occurred in 2014.