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Title: 2020-12-22 Yahoo - Why BTC's blockbuster 2020 is different than the 2017 bubble Post by: acquafredda on December 23, 2020, 09:40:43 AM Quote Bitcoin’s 225% rally to a record high this year may be seen as validation for the cryptocurrency bulls, but it has failed to fully erase the memory of December 2017. That’s when bitcoin (BTC-USD) crashed from a then-record of more than $19,000 to less than $14,000 in the span of a week. It proceeded to fall below $4,000 by the following December. The dizzying heights of 2020 may feel similar to the giddy run of 2017 — but the landscape has entirely changed, said Meltem Demirors, chief strategy officer at digital asset manager CoinShares. “2017 in many ways felt like 1999. In 1999, people didn’t know if they were buying Pets.com or Amazon.com,” she said in an interview with Yahoo Finance Live. “It was just a wild, frothy time and 2017 for many of us felt the same way. A lot of coins, a lot of names, a lot of capital flying around. This cycle is so different because the narrative is very focused on bitcoin.” https://finance.yahoo.com/news/why-bitcoins-blockbuster-2020-is-different-than-the-2017-bubble-according-to-meltem-demirors-202507274.html Eventually, media outlets had to face reality and write that the only thing that matters here is bitcoin. Title: Re: 2020-12-22 Yahoo - Why BTC's blockbuster 2020 is different than the 2017 bubble Post by: stomachgrowls on December 23, 2020, 08:34:11 PM Eventually, media outlets had to face reality and write that the only thing that matters here is bitcoin. People should realized and try to check out this current price rocketing rise compared into that year 2017.This isnt something similar that we have seen in the past but i cant really blame off people not to think that this will be an another 2017 event that had happened in the fast.Well, im thinking or having those doubts too that this might be an another one but if we do really try to make out some comparison when it comes to adoption level then its totally different but we shouldnt really be that confident because anything could really happen. There would always be a sell off but we hope that it wont really be bad just like into those bad years in the past. Title: Re: 2020-12-22 Yahoo - Why BTC's blockbuster 2020 is different than the 2017 bubble Post by: acquafredda on December 24, 2020, 01:59:31 PM What matters here is that the MSM tried hard to dismantle the bitcoin narrative over the blockchain one and now they find themselves having to talk about bitcoin only. Dante's retaliation at its finest. ;)
Title: Re: 2020-12-22 Yahoo - Why BTC's blockbuster 2020 is different than the 2017 bubble Post by: bbc.reporter on December 28, 2020, 04:37:58 AM I reckon Meltem Demirors did not consider that markets always bubble because there are always speculators around to join the pump and leave. To always pump and pump bitcoin is also not sustainable without new investors joining the pump.
Title: Re: 2020-12-22 Yahoo - Why BTC's blockbuster 2020 is different than the 2017 bubble Post by: acquafredda on December 28, 2020, 09:20:08 AM I want to jump in with a simple thought I head recently when looking at the BTC log scale price chart. On the overall log scale, it seems the rise has just started and therefore this price movement looks at its very beginning. Maybe I am biased as I want to see it that way, still it is interesting to watch the new log cycle unfolding.
Title: Re: 2020-12-22 Yahoo - Why BTC's blockbuster 2020 is different than the 2017 bubble Post by: Sithara007 on December 29, 2020, 02:58:17 AM Back in 2017, cryptocurrencies were overhyped by the media and many of the little known cryptocurrencies (those without any real usage) managed to achieve a market cap of tens of billions of USD almost overnight. This time, the situation seems to be different. The bull run is supported by solid fundamentals, such as increase in mainstream acceptance. And even better, shitcoins such as XRP are not a part of this rally.
Title: Re: 2020-12-22 Yahoo - Why BTC's blockbuster 2020 is different than the 2017 bubble Post by: squatter on December 29, 2020, 12:08:30 PM Quote “2017 in many ways felt like 1999. In 1999, people didn’t know if they were buying Pets.com or Amazon.com,” she said in an interview with Yahoo Finance Live. “It was just a wild, frothy time and 2017 for many of us felt the same way. A lot of coins, a lot of names, a lot of capital flying around. This cycle is so different because the narrative is very focused on bitcoin.” To me, that's how it felt during the first half of 2017. The Winklevoss ETF was rejected by the SEC and then Ethereum and ICO tokens completely took off. After Segwit was locked in, however, all attention turned back to Bitcoin. I remember it quite well because my altcoin holdings were worth less and less bitcoins as the fall wore on. That was painful! Now that all the focus is on Bitcoin, could we be seeing that process playing out in reverse? There has been a lot of talk about institutional investment driving the Bitcoin market recently, but Bitcoin isn't completely alone in that. Grayscale has been buying approximately half of all mined Ether throughout the year, and they now control about 2.6% of the total supply. I get the feeling that altcoins will soon have their day again. Title: Re: 2020-12-22 Yahoo - Why BTC's blockbuster 2020 is different than the 2017 bubble Post by: acquafredda on December 29, 2020, 03:39:00 PM Quote “2017 in many ways felt like 1999. In 1999, people didn’t know if they were buying Pets.com or Amazon.com,” she said in an interview with Yahoo Finance Live. “It was just a wild, frothy time and 2017 for many of us felt the same way. A lot of coins, a lot of names, a lot of capital flying around. This cycle is so different because the narrative is very focused on bitcoin.” To me, that's how it felt during the first half of 2017. The Winklevoss ETF was rejected by the SEC and then Ethereum and ICO tokens completely took off. After Segwit was locked in, however, all attention turned back to Bitcoin. I remember it quite well because my altcoin holdings were worth less and less bitcoins as the fall wore on. That was painful! Now that all the focus is on Bitcoin, could we be seeing that process playing out in reverse? There has been a lot of talk about institutional investment driving the Bitcoin market recently, but Bitcoin isn't completely alone in that. Grayscale has been buying approximately half of all mined Ether throughout the year, and they now control about 2.6% of the total supply. I get the feeling that altcoins will soon have their day again. I know many are waiting for an Ethereum reprise or some staking coins mission to Mars (I will not name names): if that would happen remains to be seen. Altcoin prices in BTC will not stand a bitcoin parabolic rise in my opinion. |