Is the current uptrend of Bitcoin different from 2017? 

Is the current uptrend of Bitcoin different from 2017? 

  • 29 November 2020
  • 379 View

According to Cryptocurrency market news and analysis of Coindesk, We have seen in the past that small investors have always been the target of the cryptocurrency market. The large investors have always followed their small counterparts in this emerging market. It seems it is changing. Over the past 15 years, high-tech products have undergone reverse changes. Consumption patterns are changing from enterprise-based to customer-based.

In the fourth quarter of 2017, small investors were at the forefront of the market, and as they entered the market, the media hype also pushed up prices. But these days, compared to those days, despite the heat of the cryptocurrency market, there is no news of media hype and loud advertising of news agencies.

In recent days, CNBC News Network has published far fewer news headlines about Bitcoin than in 2017. In the meantime, there are no traces of daily investors. Daily investors cause emotional price changes in the market because they may behave irrationally.

Is the current uptrend of Bitcoin different from 2017? 

What are the criteria for the current bitcoin uptrend?

An article on CoinDesk’s website examines the various dimensions of the recent uptrend in the cryptocurrency market by four factors are given below.

  1. Bitcoin whales, the number of addresses with at least one bitcoin inventory has been increasing from the end of 2013 to 2018. In 2018, as the cryptocurrency market collapsed, the number of addresses decreased. But it grew again in 2019 and reached the same levels as in 2017. The number of addresses with at least 1,000 bitcoins in stock known as whales in the market is growing. In 2017, whales sold their bitcoins at peak prices. But now these whales are reluctant to auction off their bitcoins
  2. Comparison of bitcoin with ether and altcoins, the emotional growth of Initial Coin Offerings (ICOs) on the Atrium platform has been one of the driving forces of the 2017 uptrend. Like three years ago, Ether pioneered the uptrend, but this time, unlike in the past, Bitcoin followed suit, reaching a quarterly price increase of 23.3% in the fourth quarter of 2020, and an increase in bitcoin prices in the same period was equal to 28.4%.
  3. Informal and Legal futures markets, the participation of organizational investors is growing at the same time as other market segments.
  4. Increasing the inflow of North American investors, Today, compared to 2017, North Americans are more interested in investing in Bitcoin.

Are digital financial markets on the rise?

The recent uptrend in the cryptocurrency market is different from what we saw earlier in 2017, although this does not mean that we will no longer see another cycle of ups and downs.

Market analytics signals surprised us. They indicate that we are probably already at the beginning of the same cycle that Bitcoin previously experienced in 2017. Of course, it does not seem that Bitcoin can suddenly become a shelter for people’s assets. Current patterns of entry of new investors with long-term goals indicate the growing interest in investing in Bitcoin. However, in the foreseeable future, bitcoin and other cryptocurrencies are still risky assets and should be used wisely.

6 responses to “Is the current uptrend of Bitcoin different from 2017? ”

  1. bahis says:

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  3. Herve Fodouop says:

    Good informations

  4. Yanga Jili says:

    Great blog and interesting too

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