[pedrocr]

There will always be smaller price fluctuations than the long-term trend. I'm not sure why you think a log scale is a better comparison either. Note I wasn't just comparing the shape of the curves, the actual descriptions of the hype cycle match the bitcoin story fairly well. Anyway it was just a curiosity, eyeballing price charts and thinking you see meaning is a time-tested method for being wrong...

[itsnotlupus]

Anecdotally, that exact graph has been posted on the bitcoin subreddits frequently since 2011, each time fitting the price chart rather well.

On that basis, it's not crazy to imagine that today's long term trend will become tomorrow's fluctuation once more.

[pault]

If you use the log chart you can see the fractal nature of the price curve, which has multiple instances of the hype cycle.

Edit: I don't think fractal is the right word. But if you are using the log scale you can see the fluctuations of relative value and the hype cycles become much more clear. There have been several. Also, GP is saying that if you average out the spikes and dips you lose the "rise and fall of bitcoin" angle.