Thank you for such a great feedback regarding our yesterday’s analysis – “BTC – we know in which phase of the market we are”.
This made us think of continuing this thought.
Today we want to share with you the other interesting idea using Innovations Diffusion Law formulated by the Everett Rogers in 1962.
It says that each innovation is adopted in the society more or less following s-shape curve. It can take years or decades and is not ideal s-shape line. This theory gives us the idea of how this process goes on.
The whole process is divided into 5 stages.
1. Innovators (2,5 % of the population) create a great solution and implement this – only 2,5% of the population are innovators
2. Early adopters (13,5 % of the population), geeks (in this case us) start using this, sharing with friends and on social media. It is not popular
in a society but a decent amount of people know it. It might not be fully legalized but is not banned too. Many so-called specialists argue
whether this invention is useful and in general, we don’t use it at all.
3. Early majority (34 % of the population) - Innovation was observed by the institution and large companies. It was legalized in many developed
countries. Institution money is flooding in.
4. Late majority (34 % of the population) – rest of the institution are coming in and the rest of the population starts buying/using it. They
simply don’t want to stay behind. A human being is a social animal and if these people see that other uses something they want to be a part
of it but definitely they don’t want unchecked beforehand products or services. They think they are the smartest ones and let other " fools "
5. Laggards (16 % of the population) – the start using it because they have to. They simply have no other option.
Usually, they use a telephone with buttons just because, phones with a crank are not produced anymore. LOL.
On our chart prices reaches as high as $2 mln and it takes around 7 years. This is just the assumption to give you the general idea. Anyway, we think that reaching $1 mln within 5 years is possible. Time will tell.
In order to see the whole time span just swipe left and right the view the whole chart.
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