3 Reasons Why The Bitcoin Bull Run Of 2021 Is Different From 2017
Besides the weakened U.S dollar there’s a lot more going in Bitcoin’s favor
Bitcoin ended its bear run from a 12 month low in March 2020 to an all-time high above $23,000 by mid-December.
By the end of 2020, there was a lot of conjecture surrounding the wild rally of Bitcoin. Most people called this just another crypto bubble like the one in 2017.
Though in their defense, there are some similarities between Bitcoin’s bull run of 2020 and the two-month epic rally during 2017 — both of them happened at the end of the year and gained steam due to the halving event.
Regardless, now that we’re in 2021 and Bitcoin has already surpassed $34K, with a 20% YTD within the first three days of the year(that’s more than what most investment vehicles give per year), it’s pretty obvious that the current bull run is a lot different than 2017 and we can’t draw parallels.
Unless some catastrophe strikes, we may not see a drastic drop that pulls Bitcoin down to the 2018 lows. And there are more than just a few reasons why the world is more optimistic about the current Bitcoin bull run going into 2022.
