As we approach ATH what is different compared to 2017?

[Fundamentals Of]

The difference is that we are older now, got more experience, more lessons learned from the past, more mature so to speak, etc. The market now is much wider. The players are bigger in number as compared in 2017. The number of big time investors are now much higher today compared in the past. That is probably the fruits of Bitcoin now playing in the mainstream field, now openly accepted even by governments and banks. Famous traditional investors and hedge fund managers are now beginning to appreciate Bitcoin and invest in it. Large companies are now getting into Bitcoin as well.

I guess that is because the adoption process happens in many places, which will be different from 2017. Bitcoin price will not be the same from time to time, and if there are more investors come to the bitcoin, that can trigger the price to increase because they want to buy bitcoin at the current price. Bitcoin will become mainstream sooner or later, while people are still searching for a new source of income, making bitcoin more popular among the people. Besides that, people will see that bitcoin is not a scam because, from bitcoin, they see many people are really making money, which they also want to get.

Bitcoin is already mainstream right now. Paypal is very mainstream. It could be used to represent the mainstream financial society and Paypal is now supporting Bitcoin. It may not be in the best way possible and preferable for many of us Bitcoin supporters but it is still a support by perhaps the largest payment system in the world right now. So Bitcoin is very much in the mainstream right now.

It is sad though that you see Bitcoin becoming mainstream just because people are looking for a new source of income. I don't share with this view. This is true but it is not the majority. I think many Bitcoin supporters are still believing and buying Bitcoin because Bitcoin is the future of money and not a source of money.

[1714171374]

1714171374

[Taskford]

I think the difference is that more adopters are coming in. PayPal is using bitcoin, institutional bodies are coming in and this means more growth to the bitcoin. The difference again is that the hype for 2017 was expected because at that time nothing was negative to bitcoin except for the bubble stuff. This time, it wasn't expected because covid-19 and economic challenge.

Indeed because of covid-19 it really hit hard the stock market while the crypto market remains the same that is why several investors choose to move on it. They more likely used it as a safe haven and then eventually understand the capabilities of Crypto. Besides, the adoption was also increasing from government, large companies such as Paypal, and other institutions. The growth speed before was phenomenal and it increases because of FOMO while today's speed growth was slow, not as speedy as we had before but much stronger and perhaps adoption was the cause of this one. Honestly, I kinda like today's growth compared we had before.

Many see the potential since despite of the economic crisis still bitcoins stands and doing a good job for maintaining it's stand compare to any other assets there, that's why by now it gather confidence to the forex trader to shift on it and see some several of them trading bitcoins and cryptocurrency.  And for the PayPal's adoption for sure we can see more from it and maybe more big money will be pour in the market duw to this iconic acceptance happened this year.

[HaXX0R1337]

Many see the potential since despite of the economic crisis still bitcoins stands and doing a good job for maintaining it's stand compare to any other assets there, that's why by now it gather confidence to the forex trader to shift on it and see some several of them trading bitcoins and cryptocurrency.  And for the PayPal's adoption for sure we can see more from it and maybe more big money will be pour in the market duw to this iconic acceptance happened this year.

There are several situations that aided the cryptocurrency market, the global pandemic that slowed downed the economy and we never know what the economic situation would be in the next five years and all the institutions see the bitcoin market as a safe heaven irrespective of the economic situation globally and these things helped the market drastically and PayPal adoption is one such instance that aided the market.

[maydna]

~snip~

Bitcoin is already mainstream right now. Paypal is very mainstream. It could be used to represent the mainstream financial society and Paypal is now supporting Bitcoin. It may not be in the best way possible and preferable for many of us Bitcoin supporters but it is still a support by perhaps the largest payment system in the world right now. So Bitcoin is very much in the mainstream right now.

It is sad though that you see Bitcoin becoming mainstream just because people are looking for a new source of income. I don't share with this view. This is true but it is not the majority. I think many Bitcoin supporters are still believing and buying Bitcoin because Bitcoin is the future of money and not a source of money.

I admitted that bitcoin become mainstream now, but it needs more adoption in many places to make bitcoin grow. Even if Paypal allows its users to buy bitcoin directly from their account, we still need to spread the news about bitcoin in many places, so more people will know and use bitcoin.

I don't mind if you disagree if I said that bitcoin is becoming mainstream because of the new opportunity to have a new income source, but that is what happens right now. But let us consider bitcoin the same as fiat, which can be the future of money, as you said, and bitcoin is also a source of money that people can get.

[pooya87]

~snip~

Bitcoin is already mainstream right now. Paypal is very mainstream. It could be used to represent the mainstream financial society and Paypal is now supporting Bitcoin. It may not be in the best way possible and preferable for many of us Bitcoin supporters but it is still a support by perhaps the largest payment system in the world right now. So Bitcoin is very much in the mainstream right now.

It is sad though that you see Bitcoin becoming mainstream just because people are looking for a new source of income. I don't share with this view. This is true but it is not the majority. I think many Bitcoin supporters are still believing and buying Bitcoin because Bitcoin is the future of money and not a source of money.

I admitted that bitcoin become mainstream now, but it needs more adoption in many places to make bitcoin grow. Even if Paypal allows its users to buy bitcoin directly from their account, we still need to spread the news about bitcoin in many places, so more people will know and use bitcoin.

I don't mind if you disagree if I said that bitcoin is becoming mainstream because of the new opportunity to have a new income source, but that is what happens right now. But let us consider bitcoin the same as fiat, which can be the future of money, as you said, and bitcoin is also a source of money that people can get.

Bitcoin is becoming more mainstream but the scale is still very small. It looks big from our perspective to see a big "name" has adopted bitcoin but in reality it is still pretty small, for instance not that many PayPal users use the option they added even though they reported big volumes and even if they do, it would be a one time experiment. Besides, the PayPal move is mostly for their own benefit and survival in long term not for bitcoin's adoption.

[CODE200]

~snip~

Bitcoin is already mainstream right now. Paypal is very mainstream. It could be used to represent the mainstream financial society and Paypal is now supporting Bitcoin. It may not be in the best way possible and preferable for many of us Bitcoin supporters but it is still a support by perhaps the largest payment system in the world right now. So Bitcoin is very much in the mainstream right now.

It is sad though that you see Bitcoin becoming mainstream just because people are looking for a new source of income. I don't share with this view. This is true but it is not the majority. I think many Bitcoin supporters are still believing and buying Bitcoin because Bitcoin is the future of money and not a source of money.

I admitted that bitcoin become mainstream now, but it needs more adoption in many places to make bitcoin grow. Even if Paypal allows its users to buy bitcoin directly from their account, we still need to spread the news about bitcoin in many places, so more people will know and use bitcoin.

I don't mind if you disagree if I said that bitcoin is becoming mainstream because of the new opportunity to have a new income source, but that is what happens right now. But let us consider bitcoin the same as fiat, which can be the future of money, as you said, and bitcoin is also a source of money that people can get.

Bitcoin is becoming more mainstream but the scale is still very small. It looks big from our perspective to see a big "name" has adopted bitcoin but in reality it is still pretty small, for instance not that many PayPal users use the option they added even though they reported big volumes and even if they do, it would be a one time experiment. Besides, the PayPal move is mostly for their own benefit and survival in long term not for bitcoin's adoption.

It's adoption of this technology is more likely due to purposes related to profit. They will benefit as a third party network in every crypto transactions in their network but one thing this industry could benefit from what this network have done is its popularity. Knowing there are numerous users of this network, majority of them could be exposed to this technology, having proportional increase in the popularity of Bitcoin and other cryptos, and there could also be a portion of this population that could engage to this technology as well. And that possibility is already a benefit of this industry, what more if its users become interested.

[XCANA]

Many see the potential since despite of the economic crisis still bitcoins stands and doing a good job for maintaining it's stand compare to any other assets there, that's why by now it gather confidence to the forex trader to shift on it and see some several of them trading bitcoins and cryptocurrency.  And for the PayPal's adoption for sure we can see more from it and maybe more big money will be pour in the market duw to this iconic acceptance happened this year.

There are several situations that aided the cryptocurrency market, the global pandemic that slowed downed the economy and we never know what the economic situation would be in the next five years and all the institutions see the bitcoin market as a safe heaven irrespective of the economic situation globally and these things helped the market drastically and PayPal adoption is one such instance that aided the market.

The world has come to that point where their fiats currency failed woefully(as we saw during the pandemic), we all saw what happened during the corona-virus pandemic which caused nearly the world economy stranded, the world government getting fiats to cushion the hardship of the citizens, the more the economy experience more damage due to inflation. Bitcoin has limited supply which made it different from fiats, so, this is what the rest of the world see to embrace this technology and this will make Bitcoin different compare to 2017.

[TitanGEL]

~snip~

Bitcoin is already mainstream right now. Paypal is very mainstream. It could be used to represent the mainstream financial society and Paypal is now supporting Bitcoin. It may not be in the best way possible and preferable for many of us Bitcoin supporters but it is still a support by perhaps the largest payment system in the world right now. So Bitcoin is very much in the mainstream right now.

It is sad though that you see Bitcoin becoming mainstream just because people are looking for a new source of income. I don't share with this view. This is true but it is not the majority. I think many Bitcoin supporters are still believing and buying Bitcoin because Bitcoin is the future of money and not a source of money.

I admitted that bitcoin become mainstream now, but it needs more adoption in many places to make bitcoin grow. Even if Paypal allows its users to buy bitcoin directly from their account, we still need to spread the news about bitcoin in many places, so more people will know and use bitcoin.

I don't mind if you disagree if I said that bitcoin is becoming mainstream because of the new opportunity to have a new income source, but that is what happens right now. But let us consider bitcoin the same as fiat, which can be the future of money, as you said, and bitcoin is also a source of money that people can get.

Bitcoin is becoming more mainstream but the scale is still very small. It looks big from our perspective to see a big "name" has adopted bitcoin but in reality it is still pretty small, for instance not that many PayPal users use the option they added even though they reported big volumes and even if they do, it would be a one time experiment. Besides, the PayPal move is mostly for their own benefit and survival in long term not for bitcoin's adoption.

Kindly research at the data about institutions or those bitcoin treasuries who hold large amount of money, those bitcoins are just in hardware wallet and that kind of companies are continuing to grow where it has affected to the price of the bitcoin. The upcoming all time high breakout will be different in the year 2017 where the price did not manage to hold and it suddenly dump, right now the market is full of greed so we will see bases that will form that will indicate that there will be major support where we can expect that the price will not suddenly dump like what happened in the year 2017.

[imstillthebest]

the difference would be the speed on how btc price travel because its speed of increase is now noticeably faster than before .

another one is the stability . its surprising that btc retain this high while on the past after the btc reach this high its value then go down faster than when it achieve this ath .

i cant agree to most users that said the attitude of people change but i believe that people are still the same . there are greedy that buys and there are greedy that hodls . seeing the price is an evidence

[UnDerDoG81]

the difference is a pretty simple and obvious one, the 2017 rise was a bubble and today's rise is growth.

it is exactly similar to the 2016-17 rise too when price initially reached the ATH of that time (that was at $1200). the 2013 rise to that ATH was a bubble and price went above the intrinsic value whereas the 2016-17 rise to that ATH was a natural growth that happened based on increasing adoption.
everything else is just explanation and sometimes justification of that increasing demand.

This. Reaching this ATH of 20k is like reaching 1.2k in 2017. The bubble will start at 50-100k and maybe hit 200k before it bursts probably down to 20-30k wich will be the new bottom for the next bubble... If everything follows old patterns... All just speculations of course.

[Febo]

As we approach ATH what is different compared to 2017?

I think that right now way more people expect Bitcoin will make x10 next year as they did at end of 2016 and start of 2017. This sort of scares me since masses are usually wrong in crypto. But on other hand, my knowledge of crypto is much higher as it was in 2016. So i maybe more listen to those that know then those that dont.

[Rebisco]

The sentiment is much stronger than before wherein the upcoming ATH will be much stronger and more popular for sure, I still remembered that when the price are still making ATH in the year 2017 where a lot of news keep popping up over all the countries where it create a massive hype and a lot of people saying "buy bitcoin". The current sentiment is different because a lot of investors are now focusing in this type of investment wherein they already know that this time will finally come. It is really surprising that the price of the bitcoin easily recovered after its crash last March 2020.

[maydna]

~snip~

Bitcoin is becoming more mainstream but the scale is still very small. It looks big from our perspective to see a big "name" has adopted bitcoin but in reality it is still pretty small, for instance not that many PayPal users use the option they added even though they reported big volumes and even if they do, it would be a one time experiment. Besides, the PayPal move is mostly for their own benefit and survival in long term not for bitcoin's adoption.

Perhaps, that is right. But we know everything bigger will start from smaller so that if we think that not many Paypal users use the option to buy bitcoin in their account, it will become bigger sooner or later. People will see by themselves the benefits of bitcoin for them, so they will try to buy bitcoin, even for just a small amount.

But the adoption process for the Paypal users already began, and I am sure that they will need time to see their users will buy bitcoin and use it for their own purposes. But what we will see later will be different in 2017 as right now, many people are trying to figure out what bitcoin is for them and how they can benefit.

[tbterryboy]

Everyone feels and knows that it is not the same as 2017, this year is very different for many reasons. However just ask yourself, what type of year 2020 was for the whole world? Would you say it has been very very bad? I mean aside from just corona, it hasn't been good even without corona right? We didn't had anything marvelous happen this year I suppose?

So, crypto has managed to survive a year that has been one of the worst in living memory, for the past 100 years we never had a global pandemic that literally had lockdown in 100+ nations where it kept people at home and walk around in masks by billions of people and over a million dead. By comparison less people died in the past 50 years from wars, and we had plenty of wars. Even with all of that crypto doubled its price and went near to ATH but falling right now. Make whatever you want with that info.

[DougM]

It looks like ATH was like touching the third rail ...as soon as it touched it a major pull back followed, but I suspect that will be short lived and it will retest ATH before the end of the year.

https://cointelegraph.com/news/bitcoin-s-price-correction-may-not-be-over-on-chain-data-analysts-warn

Ki Young Ju, the CEO of CryptoQuant, said that more corrections might come in the short term. The All Exchanges Inflow Mean indicator, for instance, is still hovering at a high level, suggesting that there is still a lot of selling pressure in the market. He said:

“More $BTC corrections might come. All Exchanges Inflow Mean (144-block MA) remains still high. In my opinion, we’ll face some corrections/sideways this week and it will break $20k by December this year. I’ll stack some sats a few days after.”

In the near term, the key support for Bitcoin is found at $16,000. Below it, the next major support areas to watch are $14,000 and $13,500.

[smyslov]

It looks like ATH was like touching the third rail ...as soon as it touched it a major pull back followed, but I suspect that will be short lived and it will retest ATH before the end of the year.

https://cointelegraph.com/news/bitcoin-s-price-correction-may-not-be-over-on-chain-data-analysts-warn

Ki Young Ju, the CEO of CryptoQuant, said that more corrections might come in the short term. The All Exchanges Inflow Mean indicator, for instance, is still hovering at a high level, suggesting that there is still a lot of selling pressure in the market. He said:

“More $BTC corrections might come. All Exchanges Inflow Mean (144-block MA) remains still high. In my opinion, we’ll face some corrections/sideways this week and it will break $20k by December this year. I’ll stack some sats a few days after.”

In the near term, the key support for Bitcoin is found at $16,000. Below it, the next major support areas to watch are $14,000 and $13,500.

That's what exactly is happening right now, after a big pump there is a correction and the price is moving up again, it's like one step backward and two steps forward, there's a big possibility that the price will eventually reach the $19 k mark and from there it will slowly move up in preparation for the all time high, let's see if this is correct, the market is very much ready for an all time high again.

[Botnake]

It looks like ATH was like touching the third rail ...as soon as it touched it a major pull back followed, but I suspect that will be short lived and it will retest ATH before the end of the year.

https://cointelegraph.com/news/bitcoin-s-price-correction-may-not-be-over-on-chain-data-analysts-warn

Ki Young Ju, the CEO of CryptoQuant, said that more corrections might come in the short term. The All Exchanges Inflow Mean indicator, for instance, is still hovering at a high level, suggesting that there is still a lot of selling pressure in the market. He said:

“More $BTC corrections might come. All Exchanges Inflow Mean (144-block MA) remains still high. In my opinion, we’ll face some corrections/sideways this week and it will break $20k by December this year. I’ll stack some sats a few days after.”

In the near term, the key support for Bitcoin is found at $16,000. Below it, the next major support areas to watch are $14,000 and $13,500.

That's what exactly is happening right now, after a big pump there is a correction and the price is moving up again, it's like one step backward and two steps forward, there's a big possibility that the price will eventually reach the $19 k mark and from there it will slowly move up in preparation for the all time high, let's see if this is correct, the market is very much ready for an all time high again.

Or it could be not, we will know if it will have a new ATH this year if it will be bullish by next month, just like in 2017, December was the most bullish month so if it's the same scenario in 2017, then I think we should start celebrating now.

[BTCappu]

The scale is not really "that" small as many people make it out to be. We are at half a trillion dollar marketcap right now and NASDAQ is at around 7.5 trillion or so which means that we are at around 15 times smaller than NASDAQ. Sure that is lower, specifically 15 times lower, but it is not really small neither, it is something major.

There are really just a few companies that are bigger than crypto for example, we are bigger than many companies all combined. Which is why I believe it is highly important for us to just focus on growing bigger and reaching 1 trillion dollar and even more later but meanwhile, do not sell yourself short neither, even if we fail to go there, we are still great where we are right now. We have to find a balance between liking where we are but also wanting to be bigger as well.

[Ayiranorea]

Everything is different from the 2017 bull market. Starting from the has power requirements, the mining difficulty rise, market adoption, etc. The growth pattern looks somewhat same. With the 2017 market the growth happened in a short and fell back within specific time period when everyone are predicting for the price to touch $25k. This time even before $20k the market has fallen, and the drop is mentioned to be a correction. We don't know what is the real market situation, only time can answer this.