Bitcoin before and now

[akirasendo17]

We have seen a massive surge in bitcoin price since we enter into 2021 almost same, trend happen in 2017-2018, only there is a big difference, in a situation today before, I think it was just a pump, but there is a big difference in this year's price rally things that are notable are the following, the influence of Elon musk, Visa considers to enter to cryptocurrency, Paypal decided to open to cryptocurrency, banks, and other institutions open its door to the possibility of using it, suddenly this year pandemic helps cryptocurrency get into the spotlight in the positive note, although there is still negativity being thrown, I think most institution study it and they realize the possibilities and important of blockchain overall.

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[Upgrade00]

Adoption has been growing at different levels over time, each new step different from the last. Bitcoin now is gaining more traction as a store of value and medium of exchange;
Institutional investors and public companies are competing to get in, with Bitcoin ETFs being approved in various regions, the last halving is also still very recent. These factors indicate that the price is not bubbling up, but is rather correcting upwards.
In my opinion, buying Bitcoin under $25k - $30k would look like a steal in the next couple of months, and we will probably not witness sharp price corrections as we are used to when the market rallies.
In the next couple of years, Bitcoin would get to a different level of adoption, probably from nations (that embrace it) as a possible reserve currency

Do not take this as investment advice

[Poker Player]

I don't think this thread belongs to Beginners & Help but going to the point I think the situation is fundamentally different now. Institutional adoption is what is characterizing this era, unlike the previous one in which the price increase was driven by retail investors. But today there is something else: with the coronavirus crisis, money printing accelerated enormously, and it looks like this printing speed is going to last for a few more years. So Bitcoin is starting to look more and more clearly like the best safe-haven store of value in the world, and that's being increasingly acknowledged by institutions.

[mk4]

Yes, but it was the same back in 2017— there were also a lot of bullish news that made A LOT of people think that "this time it's different" and that the price wouldn't retract back down. But yet, what happened? Pretty much the same thing that happened in the past halvings preceding 2016-2017.

tldr; I think the same will happen, but there are no guarantees and there's always a chance that "this time it's different".

[hugeblack]

People follow positive news when there is a rise in price and vice versa.
I read a few days ago about India ban Bitcoin, some founding investors, some news about regulation and others.
The point is the increase in adoption >> people's knowledge/use of Bitcoin >> The increase in demand >> stability of supply >> real reason for the rise in the price.

All other are to explain why the price rose, for example, TSLA buying was not for a huge amount, not like the quantities bought by Grayscale or MicroStrategy

[Charles-Tim]

I think most institution study it and they realize the possibilities and important of blockchain overall.

Many institutions would have believed in blockchain some years ago if they understand the principle, and as Bitcoin blockchain is the most strongest, there is no any doubt how safe our Bitcoin is and not vulnerable to 51% attack in any way, while miners are ever growing, making the blockchain more stronger than of the past.

The reason institutions have not been investing into bitcoin unlike these days is because of volatility, and because of its early age. But, they are becoming to realizing now that gold is an asset that Bitcoin just work that way too, all  assets just work that way, only that Bitcoin is not physical but digital and better than other assets because it has limited supply which will make it more deflationary in design than others.

With time, as people and organizations are realizing that, this will be a way bitcoin will increase more in value in the future, and thanks to its limited supply that might make it point of positive concentration in the future.

[cabron]

I'm sure this time its different but we can still expect the bear market will come in crypto in due time. The time is something to be speculated or not but it will come.

The difference they say is that adoption today is wider than what it was back 2017. This time big companies including the financial institutions are up to have BTC, this is very favorable to early adoptors like us.

[cryptomaniac_xxx]

We have seen a massive surge in bitcoin price since we enter into 2021 almost same, trend happen in 2017-2018, only there is a big difference, in a situation today before, I think it was just a pump, but there is a big difference in this year's price rally things that are notable are the following, the influence of Elon musk, Visa considers to enter to cryptocurrency, Paypal decided to open to cryptocurrency, banks, and other institutions open its door to the possibility of using it, suddenly this year pandemic helps cryptocurrency get into the spotlight in the positive note, although there is still negativity being thrown, I think most institution study it and they realize the possibilities and important of blockchain overall.

This is more of the start of 2017, so it means that we are just started the bull run and obviously, a lot of things can happen this year, but eventually we might reach the bubble at the end of the year. And as what you have mentioned, bitcoin's narrative change a lot starting from the last quarter of 2020 up to this point. And this is not the last that we may hear big companies hedging their reserve assets to bitcoin. Of course the technology behind is also important part of it success. Because we have seen it grow as well and different sectors are taking advantage of this latest technology specially companies that are using big data to make their business decision from day to day operations to companies direction.

[Daniel91]

We have seen a massive surge in bitcoin price since we enter into 2021 almost same, trend happen in 2017-2018, only there is a big difference, in a situation today before, I think it was just a pump, but there is a big difference in this year's price rally things that are notable are the following, the influence of Elon musk, Visa considers to enter to cryptocurrency, Paypal decided to open to cryptocurrency, banks, and other institutions open its door to the possibility of using it, suddenly this year pandemic helps cryptocurrency get into the spotlight in the positive note, although there is still negativity being thrown, I think most institution study it and they realize the possibilities and important of blockchain overall.

This is more of the start of 2017, so it means that we are just started the bull run and obviously, a lot of things can happen this year, but eventually we might reach the bubble at the end of the year. And as what you have mentioned, bitcoin's narrative change a lot starting from the last quarter of 2020 up to this point. And this is not the last that we may hear big companies hedging their reserve assets to bitcoin. Of course the technology behind is also important part of it success. Because we have seen it grow as well and different sectors are taking advantage of this latest technology specially companies that are using big data to make their business decision from day to day operations to companies direction.

We were all very excited when the btc price jumped sharply in 2017 but after that there was a big drop in price.
This time I believe that the scenario from 2017 will not be repeated and that this growth is more sustainable, due to the much larger number of institutional investors investing in btc, as opposed to 2017.
For those who will hold btc and be patient, I think they will have big profits in the coming years.

[Oasisman]

A lot of speculations about Bitcoin reaching $50,000-$100,000 on post halving of 2020, but nobody predicted how it's going to happen. Nobody expects that a lot of institutions and even the rich people are coming in to cryptocurrency.
This year might be different from 2017 bullrun, maybe because of the influence from big names. I'm kinda excited what will happen next when Bitcoin hits $50,000.

[Kittygalore]

A lot of speculations about Bitcoin reaching $50,000-$100,000 on post halving of 2020, but nobody predicted how it's going to happen. Nobody expects that a lot of institutions and even the rich people are coming in to cryptocurrency.
This year might be different from 2017 bullrun, maybe because of the influence from big names. I'm kinda excited what will happen next when Bitcoin hits $50,000.

It is already different than the 2017 bullrun, it is already February and the pump is still going strong. You are right that nobody expected that institutions from financial world gathered to adopt cryptocurrency which makes the 2020-2021 bull run different. When bitcoin hits the 50k USD price, more investors will be pouring money in the market to stimulate it more into becoming more pricier, the 100k range speculation is not far from impossible if financial institutions keeps coming in to invest, they know that going late to the party will make them late for the dance too, so they have a limited time to decide.

[pinggoki]

We have seen a massive surge in bitcoin price since we enter into 2021 almost same, trend happen in 2017-2018, only there is a big difference, in a situation today before, I think it was just a pump, but there is a big difference in this year's price rally things that are notable are the following, the influence of Elon musk, Visa considers to enter to cryptocurrency, Paypal decided to open to cryptocurrency, banks, and other institutions open its door to the possibility of using it, suddenly this year pandemic helps cryptocurrency get into the spotlight in the positive note, although there is still negativity being thrown, I think most institution study it and they realize the possibilities and important of blockchain overall.

Actually the difference is just because many people and big companies are seeing the importance of bitcoin that's why they are considering it right now. Including on the big companies are Tesla who owns by Elon Musk and made a big impact of them by buying 1.5b of bitcoin, and PayPal who is now accepting and decided to open cryptocurrency and lastly the Miami's mayor who accept bitcoin as a payment method to their employees. Many reasons why the bitcoin surge and soar high this year and these are the primary reasons that I've seen so far.

[blckhawk]

We have seen a massive surge in bitcoin price since we enter into 2021 almost same, trend happen in 2017-2018, only there is a big difference, in a situation today before, I think it was just a pump, but there is a big difference in this year's price rally things that are notable are the following, the influence of Elon musk, Visa considers to enter to cryptocurrency, Paypal decided to open to cryptocurrency, banks, and other institutions open its door to the possibility of using it, suddenly this year pandemic helps cryptocurrency get into the spotlight in the positive note, although there is still negativity being thrown, I think most institution study it and they realize the possibilities and important of blockchain overall.

Today's growth was really far different way back before because adaption right now is more widely compared before. This price surge 2021 are caused by the investment of large institution, widely adaptation from an individual, small retailers up to big companies unlike before where price surge is mostly caused by FOMO. Yes, there could be some correction and bear coming in the near future but I am pretty sure that this won't be fatal as we had before. Before Bitcoin was only acknowledged by small investors but now is different cause even Elon Musk and his company TESLA even acquire Bitcoin, pretty sure big companies will follow and do the same its just a matter of time.

[boyptc]

They are in FOMO.

Before it was the individuals and retail investors that were in FOMO. But this time, it's really different from before and the institutions are putting themselves into it, and looks like they're in FOMO.

[Gozie51]

Paypal decided to open to cryptocurrency, banks, and other institutions open its door to the possibility of using it, suddenly this year pandemic helps cryptocurrency get into the spotlight in the positive note, although there is still negativity being thrown,

Bitcoin now is under sabotage and critism by the government. The period of this critsm was during the 2017 when bitcoin made a huge bull from less than $1,000 to $20,000 dollars and that volatility caused many skeptics to lose money and now with the current bull, the fear is still hiding within the minds especially those in government. The government is trying to regulate the operation of bitcoin with the excuse of protecting their citizens from investing in an "unregulated" business. But the institutional investors are the the engine and driving force to the bitcoin of now.

[bounceback]

Never see what happen with bitcoin last four years because make you wanna cry and bad memorize specially for any investor ever join with MMM Global where payment using bitcoin, we can't count how many bitcoin we use for investing there and now was run away without can't get back our bitcoin, maybe when event on MMM Global and save our bitcoin today become rich person.

[Rruchi man]

I hold a strong believe that the current value of btc (42.8k usd) will in no time become the before price for bitcoin. In the future when the price has risen aso high, people will look back and say - " I remember the time btc was 42.8k"

[lovesmayfamilis]

Institutional investors have recently become the main driver for the growth of the bitcoin price. They began to recognize it as a reliable asset, investing quite large sums in it. I think that the flow of such investors will increase even more, but this does not mean that we will no longer see a correction. Bitcoin is unpredictable. But waiting for it to burst like a bubble is already useless. In 2017, we faced a boom in ICO, we saw a huge pile of non-functional tokens, and they generated a fever and a rise in cryptocurrencies.
Today, investors understand the real significance of the market situation and competently manage their assets, betting more on bitcoin.

[ipanks]

This year, bitcoin gets so much supports from the big companies, and I am sure that can bring a different situation than in a few years ago. I think that big companies have their reason that we do not know why they are interested in bitcoin after a few years ago, they do not want to involve in bitcoin. But all in all, the coming of the big companies really help bitcoin grow more from this year, and I think the next years will be bright for bitcoin and crypto.

[Coyster]

It's evident that's there's a difference between then and now, it became clear that BTC was going to appreciate far beyond expectations when the pandemic had little or no effect on its appreciation, neither did it stop the effect of the halving from happening, people who missed the price when it was lower than it is now, are in FOMO territory, and those who joined the market just to make quick profits get affected more by FUD when there is a minor price correction.

But having said that, moving away from the investors to the network itself, there has been a massive development, one that's expected to continue for quite a long time, 'being your own bank' is now something quite a lot of individuals and corporations want to be, as they manage their funds themselves and make profits when the price surges high.