Analysts of Google: The bitcoin will overcome new tops in the next several months

The analysis of search queries in Google demonstrates that the descending trend on the bitcoin price, perhaps, has reached the lower threshold, and can be developed towards growth again.

The price of bitcoin has reached record heights in the middle of December, having approached a mark of 20 000 dollars. The schedule of search queries on bitcoin has also reached peak values in the same time. The system of Google monitors trillions of inquiries a year and therefore is one of the most important indicators of public interest on regions and categories.

It is remarkable that data of last January assumed sudden and rapid growth. The forecast was true even if and with short calm in the first two months (similar to what we observe now). According to analysts of search queries, now we see repetition of a last year's trend. The schedule shows a turn towards growth in February.

Thus, if you believe that the price for bitcoin is formed partly, proceeding from the level of public interest in the phenomenon, then the probability that the bitcoin can break the new tops in the next several months, according to some predictions of analysts is high.

"I believe that regulators will excite the market several times a week in the next two months until SEC decides on regulation, and institutional investors won't begin to invest … In this point of the price will go up. I believe that it happens in March or April", the president of LDJ Capital, David Drake claims.

Besides the decrease in transaction expenses and technological updates expected this year, other factor of possible growth is that the last falling left behind a board, so-called, "weak hands", investors who hastily get rid of the investments at short-term falling, having given in to panic.