Major differences between Bitcoin rally 2017 and 2020

[chretienm]

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

1. Whales bitcoin addresses keep growing and balances are not shrinking that means more holders, in 2017 there were more whales sellers.

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.

3. There was a dominance of Asian investors and money in 2017 and now with PayPal, CME, Square more money is coming from America.

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.

4. As TA guys may notice price action of Bitcoin rally 2020 looks more technically prdeictable than in 2017.

What differences did you notice?

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.

[1714767199]

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[peter0425]

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?

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.

[Yatsan]

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.

[pixie85]

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.

[CryptopreneurBrainboss]

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.

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.

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.

[thesmallgod]

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.

[Shasha80]

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.

[Jemzx00]

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.

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.

[AniviaBtc]

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.

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.

[Twentyonepaylots]

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.

[Slow death]

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

[kentrolla]

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.

[bryant.coleman]

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

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.

[hello_good_sir]

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.

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.

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.

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.

4. As TA guys may notice price action of Bitcoin rally 2020 looks more technically predictable than in 2017.

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).

[ChrisPop]

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.

[Chuky92]

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.

[cabron]

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.

[Mistafreeze]

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.

[Vaskiy]

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.

[Oasisman]

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.

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.