Bitcoin Forum

As Bitcoin bullrun continues there are some differences between 2017 and today.
1. Whales bitcoin addresses keep growing and balances are not shrinking that means more holders, in 2017 there were more whales sellers.
2. Much more institutional investors are flowing into bitcoin.
3. There was a dominance of Asian investors and money in 2017 and now with PayPal, CME, Square more money is coming from America.
4. As TA guys may notice price action of Bitcoin rally 2020 looks more technically prdeictable than in 2017.

What differences did you notice?

As already discussed here: https://bitcointalk.org/index.php?topic=5290012 - 2020 rally is much more stable and standing stable for much more days comparing to 2017. Because, on 2017 we had bitcoin above trading above 10K only for 29 days, less than a month. during the 2017 bitcoin pump was partly happened because of the new investors investing on bitcoin but on 2020 there are many positive fundamental news related to bitcoin such as grayscale and paypal. This will stabilize the price on long period of the time. 

The strategy will be a little different with the size of money require to push the price to 100k+. They are creating scarcity with the inclusion of institution in purchase of bitcoin, also mopping up of the mined bitcoin as it comes out. Whales are holding over 80% of bitcoin and other altcoins are adopting staking for price increase. I expect a early parabolic market and will catch people unaware but there chances for slight difference. Everything is even in place earlier than in 2017

This time, the altcoins are lagging behind. During the last rally (in 2017), the Bitcoin market share was somewhere around 40%, and the corresponding figure now is 62%. I am not discounting the sharp upswing shown by ETH and XRP during the last 24-hours, but I would say that this bull run mostly depends upon Bitcoin. I expect the BTC dominance to remain above the 60% level for the next few months.

Last 2017, the entire crypto space is in hypes, ICO, altcoins, and Bitcoin. But seeing the situation today, only Bitcoin did the rally. Though we saw some potential altcoins had it pumps but only a few of them. I really think that most investors are now focusing on Bitcoin and considered this as a long-term investment unlike we saw before.

And another thing is that this year is perfect for Bitcoin adoption as the pandemic hit that it helps to maintain the demand. And have to notice also that big companies are now considering Bitcoin as an alternative option for the payment system which has a huge effect on the market.

Everything should be a difference. The previous bull run happened in 2017, and it's 2020 now. So everything already changed. The reason for both bull runs would different like we are seeing many adoptions on Bitcoin this year. Community growing day by day and expanding bitcoin uses. The main difference in my opinion that the community expands a lot. Many peoples realizing the fact of Bitcoin and entering on it. Most probably, that's the reason why we are in bull run currently.

2017 bull run was made due to ICO proliferation and Tether minting.

This bull run is a natural growth for bitcoin. The adoption by those institution that you have mentioned are playing an important part on the community and bitcoin's rally for this year.

2021, we will see a much better result that will take effect by that year.

The likes of PayPal and squares buying the most recent mined Bitcoins will be a major reason for this bull run sustainability on a long term IMHO. This Bitcoin rally is way far better and bigger than the 2017 rally, becasue of these institutions going into Bitcoin, also, there are good numbers of millionaires and billionaires going into Bitcoin for investment and the fiats started collapsing. The market is growing becasue of global gradual adoption on the move.

this is not something we can ever know or measure. a whale can easily split his coin between multiple addresses which would look like the number of addresses with a lot of coins are decreasing or may look like he is selling but it is not what is happening in reality.

do you have any data to back this up or is it your personal guess?
i am curious because i still see bitcoin grow all around the world the same as before, in Asia or any other continent.

there is a problem with this statement since you are saying the entire 2017 which is a whole year. most of 2017 was actually very predictable and price went from around $800 if i am not mistaken to $20k. the only unpredictable or less predictable period was the last month.

It is certainly different this time in 2020 because from back then no corporate entities were interested in bitcoin and they viewed it not as stable as precious metals or even stocks. Back then it was even relying on the SEC on getting approval for on ETF. Which when it was announced skyrocketed the price only due to them speculating on having it viewed by senate representatives. What happened? They took all of 20 seconds to ask about it then it getting a flat out denied by the senate appeal.
This made the confidence level in bitcoin drop and so did the price after hearing this news hit media outlets yet again.

So here we are in 2020 and talks of paypal showing interest and educating the uneducated about it allowing them to purchase it directly from their platform, yet not allowing them to withdraw it off of there.
CNBC having interview after interview with big heads of corporate companies saying it is better than gold and it is worth 10oz of the precious metals driving up interest from many others to finally pay close attention to this rise up from $8000 to $19000 in a matter of a month and a half.
It breaking records in hashrate and some other things I am less inquisitive on. But it all means more money is flowing into bitcoin.

So to me this rally is real and less fabricated than the last one back in 2017.
Meaning this one is here to stay and not drop all the way down to $3300 like it did back in March of this year.

This year's bull run will be quite different from 2017. The awareness of bitcoin has spread more globally than before which has attracted many investors into the crypto sphere. There has been speculation that Bitcoin can go above $100k. Think of what happens to altcoins if BTC hits that speculated amount

You have missed one major point and that is bitcoin dominance. In 2017 the dominance of bitcoin was less due to the ICO hype.
Many investors threw their money on altcoins popping up in the ICO era. Due to this the dominance for altcoins increased a lot.
This time though it's bitcoin who is leading the dominance and this is a good sign since many people are holding bitcoin.
This only means that the price is about to grow more.

The only catalyst in the Asian market that I could think of was when the Japanese Financial Services Agency allowed (https://www.cnbc.com/2017/09/29/bitcoin-exchanges-officially-recognized-by-japan.html) some exchanges to operate under their watchful eyes. This was in addition to Japan's legally accepting bitcoin as a form of currency earlier that year. The news on Japanese exchanges also came after the Chinese government ban on ICOs.

So here's my counter-reaction on what you had said.

1. More whale or big player accumulation then doesnt mean that they would just remain hodlers and one time they would really tend to sell their bags.

2. They've been here already and just quietly accumulating for some of them.

3. Asian and American? Theres no precise number or statistics with that when it comes to dominance.

4. Bitcoin price or rally is never been technically predictable.We can just say that charts are effective now just because the price
   did go along with it.

This was one of the topics which was referring to that I do not quite understand when it comes to the bitcoin price yet it did break a record just recently and is one of the major staying factors for the price to stabilize.

Everytime growth of bitcoin is connected with some news associated with it. Compared to the previous bull trend, this year we've got more big news to keep the market grow high and high. The year has made more newcomers into the cryptomarket, and this has happened as a result of people looking for opportunities to earn. As most users mentioned, the market scenario at present and 2017 is entirely different in terms of the usage and acceptance.

that is what i guessed too and i think this way of thinking is because the media doesn't report that much about the development in Asian countries most probably because they are too lazy to translate stuff to English and also because they want to publish "fancier" stuff that can get them more viewers.
as for ICOs as far as i can remember a lot of different countries banned ICOs after the huge number of people they scammed.

Bitcoin in 2017 was a bit loud and new for lots of people, I mean it became for lots of people like an invention that was worthy and promising. And lots of people tried to catch this gold mine. Nowadays people are more selective, and do not rush into Bitcoin because it is fashionable or lots of people do this. People nowadays think over will it be profitable or not. And of course comparing with 2017 yhere are lots of platforms, services that accept crypto Bitcoin, Ethereum or different altcoins as means for payments or transactions.

We're not in a bullish market yet per se, wait until the previous all time high has been reached which is just approximately $1700 away then you'll see the FOMO at its peak. The industry is always loud, we have more of speculators here than investors so you don't expect the market to be dull. Currently the market is just recovering it's previous highs.

Also you should noted all the price bitcoin achieve before $20000 won't be seen as that much a big deal as it isn't the first time we'll be reaching those prices. To me the major different between both bull run is that, we have lesser coins in circulation now and all newly mined coins are been taken from the market as previously reported by news outlets.

Square and paypal are a major contributors to this act, just hope it doesn't affect bitcoin in future, like it becoming centralized as selected few will be holding big bags to manipulate the market to their will.

What is the date of Data about this?we are just in november so if your comparison is about December of 2017 of course whales are picking up their fruits those days,and starts of the fall of bitcoin,some of them transfer to altcoins for another profit.

the other factor seems to be fine though there is no Statistics or graph that proves about all of those,but since the market is growing let us consider those factor also.

I got information concerning inflows from this analytical source https://www.chainalysis.com/ but you must be registered to view, there is plenty of other intersting data concerning bitcoin

because crypto market now is more mature compared from 2017,when many people enters and invest for a belief that crypto specially Bitcoin will make them instant millionaire,i have known this better because i have met some individual in social media those days and that is what they learn,that they only need to buy and after a while profit is on their way.

Now this community is getting clearer and starting to learn what is crypto in deepest perspective and not just a investment material.

There are really lots of difference that can be catered from years 2017 and 2020 bullrun. Both have been triggered by different contributing factors that lead into the Bitcoin bullrun. If we will get back to year 2017, all people and investors are into the hype for the fact that after couple of years, the price of Bitcoin have been boosted to reach a new peak of price compared to the past years of its existence which brings hype and excitement to all. Now in year 2020, people are becoming more educated on the crypto world and have already learned from past experience added by the fact that many institutional investors have get engaged into Bitcoin. We can see the improvement, growth and maturity of the people and the market after plenty of corrections that lead us all into the current situation that we are all currently into.

This rally is different but at the same time similar. Confusing? It shouldn't be!

You could say there's more institutions coming in and that the rally is more predictable but we haven't really started the FOMO part.

We are where we were in 2017 when Bitcoin broke 1000 dollars and begun its climb towards 3000. The real FOMO begun at that point and with the last ATH being just above 1000 we went to 20000 so 2x the last ath. Even if we went 10x this time we'd be at 200 thousand dollars! Wait for us to go to 50 thousand at least before you start talking about predictability because this is where the fun will begin.

Just as I stated few weeks back, we can now see the fomo having it's effect on the market as new highs are reached almost daily. We cross the $20k few days back and now we have already reached four new highs which are $21k, $22k, $23k and just few hours ago $24k. The hype will continue probably until 2021 with new highs getting cross with less efforts due to the fomo factor.

Just to add to my previous statement, another major difference I'm noticing in this bull rally compared to that of 2017 is the maturity in the market excluding the fact that Institutional investors are pouring in some smart money, the average investors are also now conscious about their investment unlike previously, as the years goes by each bull run would be bring about a different market.

The rise is only much to bitcoin unlike in 2017 in which altcoin prices also went up with some token going 10x of the initial price. Investors switch to some altcoin rather than focusing on the bitcoin only. The fee were not as high as this present price in 2017. Also I remembered vividly then that the price went up to 100% within 24 hours. It seems this present bull run is more stable compare to the 2017 bull run. The resistance levels are adequately supported and when there was some correction when the price went below 20k few days ago, the recovery rate was strong and quick to go back above 20k. It might be an indication that the next correction might be greatly supported with strong resistance and we might not see great fall in price unlike 2018.

It is true that the bullrun that occurred in 2017 was very different from what happened now in 2020. Some differences have been
mentioned in the opening post, I agree with the reasons mentioned in the opening post. Because now there are more Bitcoin holders,
and it looks like there are many whales who HODL Bitcoin for the long term investment. And some whales are large institutions or
companies that do buy Bitcoin for long-term investments, not for pump and dump. The conclusion is that the increase in the price of
Bitcoin will now last longer than what happened in 2017.

As Bitcoin adaptation not only to individual but also to institution, local markets, and governments makes the bitcoin price more steady and strong resistance to dumpers and just as you've said it will or might have a very strong correcting in the coming months. Unlike in 2017, where bitcoin was too hype and the market just suddenly flooded by new investors who just suddenly known bitcoin due to it's price fluctuation that time makes the sudden dump too deep.
Right now, we may be seeing on a stronger correction price point that would be at a steady range between 17-20k or even more with a strong resistance.
Also during this time where bitcoin is at it's peak, altcoin also increase in value especially new one's that has boost of price of 10x or even more where market inventors are also targeting other than bitcoin. But for me, those altcoins has lesser price correction and mostly likely to be too unstable price and will suddenly be dump after all of this.

These three things are due to the fact that in this pandemic, people are more engaged in to a digital platform where bitcoin is included.

More investors already adopted bitcoin in the market and they are really happy about the decision that they've made this years or in the past few years.

This year is the much improved new ATH because it really made another history and surpass its past ATH and I think one of the factors into that is the volume of bitcoin investors this year.

One striking difference is how subtle this ATH passed compared to the 2017 one where it literally broke the internet and caused a huge surge of people investing and dumping. This may also have become the reason why the ATH has been able to drag on until now that it reaches 24k. Additionally, unlike the 2017 ATH where the fomo started a bit early, we can expect the fomo and the dump to start mid January or early february.

in 2017 it had futures exchanges and bitcoin cash hard fork. this year there is something much bigger: "paypal". yes for those who did not like paypal and said that paypal would be surpassed by bitcoin they must be brooding because time is proving that bitcoin depends on things like paypal, institutional investors (all centralized and bureaucratic system) to reach very high prices and have big adoption.

so we can say that this rally is due to paypal

When you compare with 2017 now BTC is much stronger than before the domination is increasing and by corporate gaints are involving like PayPal as whales are eagerly waiting to fill their bags there's no any circumstances for dip now as the demand is high but Alts are not upto the mark as they are waiting to see a strong resistance we can expect pump in few months. However BTCs rally will be the hot topic across the globe and even now it's increasing slowly that's the beauty of it and lot more to come.

I am not sure how much impact came from the Bitcoin Cash hard fork. There was some media coverage about it, but the hype was limited to the already existing users of cryptocurrency. IMO, most of the difference came from the decision by some of the mainstream exchanges to allow futures trading of Bitcoin. The rally of 2017 started immediately after the announcements by CME and CBOE.

In 2017, bitcoin was seen as a way to make money, a new currency that showcased a cool platform, combined with concepts of decentralisation. I don't think it was seen in the same light as it is now, where you can make a genuine case that bitcoin and the concept of blockchain technology is crucial to our next evolution.

I disagree, to a certain extent. 2017, we saw US companies involved with bitcoin as well, we saw companies like AMEX look into developing their own crypto-currencies, we saw them buying and utilising bitcoin in their own way. I would say the market has just organically developed in recent years, as there have not been a lot of notable entrances into the market. Paypal was still involved to a decent extent with bitcoin/crypto in 2017, but when that's their first or second year of being involved with crypto, you can't expect anything to happen. Time has just gave way to more inventions.

I do not think bitcoin has ever been, or ever will be predictable.

You also failed to neglect a major contributor to the 2017/18 booms - ICOs, crowdfunding and altcoins. The ability for companies to raise millions in a new industry quite easily saw to a lot of hype, and we obviously saw bitcoin profit off it. This is no longer doable, as crowdfunding is oversaturated, and a lot more regulated which means the growth that occurs now is organic and actually good (not saying that the growth from ICOs was by any means bad, just "artificial" in a sense).

The main and most obvious difference is that institutions were much less involved in 2017. Now we see in the news very often that more and more investment funds and companies are building positions in BTC.

There are no more ICOs and the crypto environment overall is much cleaner. Less scams and things are more regulated by authorities.

From my own understanding, the major difference which is evident to everyone is the higher presence of institutional investors, this contributed a lot to Bitcoin creating a new ATH as seen today. Another difference is that, unlike 2017 where most people do not have sufficient knowledge of Bitcoin and the crypto space, this time around, a lot of investors have gotten more acquainted with Bitcoin hence the good growth that everyone has been witnessing despite the presence of Covid-19. Lastly, more adoption happened this year which brought Bitcoin to a lot potential investors who understood that, for it to get to such level of recognition means it is worth it.

Do you think because more institutional investors today it would also be different like in terms of adoption?
Its like they are the ones pumping this bullrun to happen. I hope though that its not just BTC but also altcoins.

Paypal onboard looks to be the most driving influence for small investors that are from US.

You missed one more important reason and that is the pandemic.
Yes covid-19 is also some how responsible for this BTC price hike.
Now traditional investors looking for some other non traditional investment fields and they are now exploring digital currency.

Major difference I find between the Bitcoin rally of 2017 and 2020 is the market stability. During the previous bull market, the price grew and dropped on the same speed. This time we're experiencing a much stabilized and stable growth. This time more and more number of institutional investors into the cryptomarket. Pandemic has created a positive impact on the widespread of bitcoin. During the time of pandemic more and more people started looking opportunities online.

I agree with you.
Back in 2017, ICO's were very familiar and a lot of people were investing to these projects that causes the market to force a bull run and an Alt season.
While in 2020, people are starting realize how good Bitcoin is as an investment tool for long term. Institutional investors comin in are indeed becoming a trend in crypto space this year, and they're one of the major reason for this bull run.
Btc is heading to $30,000 and I can see a lot of people are getting interested in Bitcoin.

indeed, the rise of bitcoin this year was started during the covid-19 Pandemic, at first people thought the price will drop even further because people will cash out in order to hold cash but it turned out the other way around. Then the government printed so much money to sustain and stimulate the economy that results in a depreciation of the currency value, hence the institutional investors started to look at bitcoin as alternative reserve funds.

covid is a mystery . its not like a normal disease that people think because if it was i dont think it can influence the value of btc and it can stay this long  .

covid is an important event not only on the btc history but also on the history of mankind but not all credits can go to it ,

 we must not forget that covid has a negative impact and the other main happening that impact heavily on btc is the paypal i guess .

Most of the members have said that the Covid19 pandemic was not with us in 2017. For that reason we see Bitcoin more special. Despite opinions to the contrary, I think that this 2020 bitcoin rally will mark a before and after in the history of bitcoin.

I only fear that bitcoin will remain locked in the wallets of large investors and that treasure is not destined for the development of a new economy and in all the needs that the world has.

It is time to improve technology in all areas with an eco-friendly development because now more than ever we have realized that we must preserve the planet and ourselves.

the major difference is there is a lot more money behind Bitcoin now and Institutions!

In my opinion PayPal have not made a great impact on Bitcoin and its price in 2020, because there are too many nuances there, that look strange even in some way. In 2017 when it was rapid increase there were also many holders and their amount were very high, of course after decrease closer to 2018 the amount of sellers became higher. And I doubt that nowadays technically it is easily to predict the price of BTC than in 2017.

Paypal adopting BTC is adding legitimacy to BTC. People now started to think of investing BTC particularly the paypal users.

The point there is people who uses paypal no longer think BTC is a scam or Paypal is now part of the wider scam. Either of it, the money still comes in.

Bitcoin approached $20,000 in 2017 and finally topped the mark in 2020. What drove the rallies, and what happened in the days following the peaks, show how much the market has changed in three years.
I think this bull run is stronger and we will witness a bitcoin beast like never before

That paypal adoption do indeed give out some changes when it comes to those people who are skeptical on bitcoins existence and calling it as a scam or a fraud thing
and when Paypal did really able to integrate nor accept it on the platform then that really changes up the perception of those people which is really a great help
when it comes to adoption news or development.This isnt only limiting to Paypal alone but also in other companies and institutions as well.
It is already getting some attention now and sooner or later we would really able to see new heights when adoption is already into that level.

A lot of people already learned from the last 2017's ATH and has since been hodling their coins as hard as they could despite the temptations ensued by the current ATH,which is even bigger than the one three years ago. Moreso, we saw a huge increase in the interest of private companies to the coin and had done their best to get their hands on some bitcoins right now. Boosting thebdemand and causing an uprise in the value of bitcoin.

Retailers are main fuel for 2017 bull run that burst after that. Institutes are main fuel for 2020 bull run that makes difference and this run won't be burst too easy as the 2017 bubble.

Retailer participation contributes to a spike in Google trend chart. The 2020 bull run caused an increase in Google trend but it is far from 2017 spike. I wait for highest spike in next year and if it climbs to 2017 spike, bitcoin might boom to $100,000. It is my dream for next year.

https://trends.google.com/trends/explore?date=today%205-y&q=bitcoin

There are many factors that can affect the change of bitcoin value. What is constant in life is change and bitcoin awareness and acceptance is being spread everywhere. We experienced the bull run and many to come  ;)