Major differences between Bitcoin rally 2017 and 2020

[error08]

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?

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.

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.

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[imstillthebest]

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?

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.

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 .

[verita1]

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.

[DECABEATZ]

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

[milani]

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?

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.

[cabron]

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?

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.

[Jamesdila1]

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

[Fatunad]

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?

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.

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.

[CarnagexD]

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.

[hd49728]

The main difference between the 2017 bitcoin rally and the 2020 bitcoin rally is that in 2017 only retail buyers moved the price and these purchases were strictly speculative. This was not a long-term investment. Buy and sell quickly. That is why the price went down so quickly. In a way, it was such a pump-and-dump scheme.

Bitcoin is growing in 2020 thanks to institutional investors who buy bitcoin as a long-term investment. They see bitcoin as a hedge against macroeconomic risk rather than a quick cash tool. Thus, we are witnessing an outflow of bitcoins from liquid wallets of traders to illiquid wallets of investors.

Therefore, the price confidently broke through all resistances at that moment and did not fall rapidly downward.

In general, in 2017, the market was pushed by retailers, and in 2020 - by institutions.

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

[Crptomagma]

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