Bitcoin bull run: 2017 vs. 2021

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?

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This time people don’t seem to sell in panic compared to 2017. Also I haven’t heard the taxi driver is now investing in bitcoin, which is usually a sign that you should step out (figuratively speaking). I have been investing in crypto since 2013 and although I will never put all my money in crypto, it’s been a nice ride until now.

I agree. At this point it looks like a lot of the dips are bought with high volume. A lot of BTC is also leaving exchanges, so that is a sign of accumulation. A lot of the altcoins have been increasing in price last month though. Often that is a sign of retail investors joining the crypto space.

Curious to see how long this bullrun will last and what the lowest point will be after the bull.

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I think it’s still going to keep going for a while.

We are seeing massive adaptation by big entities like banks or payment processors.
The amount of whales that joined has been staggering.

We will most likely see a crypto winter again. But it will nowhere be close to the prices we saw before the last bull run. The floor has been lifted massively.