Bitcoin has had many runs in the past, so how is the current bull run differently from the 2017 bull run?
I think the biggest difference is the entry of big institutional investors.
With Grayscale having assets under management of $27.4B in their Bitcoin trust (9th of February 2021), shows that there are some big players entering the crypto space. The latest news where Tesla acquired $1.5B in Bitcoin and announced that it’s going to accept Bitcoin as payment, also pushed the Bitcoin price to a new all-time high.
You can also see that Bitcoin is traded a lot more than in 2017. At 2017 all-time high was a 24-hour trading volume of around $13.5B while the all-time high at the 9th of February 2021 shows a $125B+ 24 hour trading volume!
What other differences do you see between the 2017 bull run and the current one?