The growing consensus among crypto pundits and experts is that this Bitcoin bull run is decidedly different from the one that left so many wide-eyed retail investors who succumbed to FOMO in 2017 out in the cold just months later.
Why 2019 is Different Than 2017
Backers say that Bitcoin’s parabolic 2019 ascent is nothing like the 2017 bubble. | Source: TradingView
For one thing, it appears retail FOMO has only begun in traces around the periphery.
For another, institutional interest plays a prominent driving force at present. This may or may not continue as the market fluctuates.
Whatever the case, this isn’t like before. Bitcoin only touched $11,000 for short increments before. It was as unexpected as it was short-lived: soon after that, the prices were pushing up and up.
As “institution-grade” crypto analyst SFOX wrote in a recent blog:
“The relatively sustained increase in BTC’s price over the past couple of weeks has many crypto veterans and newcomers alike comparing the state of the market to the bull market of late 2017. But the full picture of the similarities and differences between BTC’s two $11,000+ moments illustrates how far crypto has come in a relatively short time — and where it still has opportunities to mature.”
Institutions are coming in waves.
Everywhere you look, it’s blockchain this, token that.
These are the areas where the two bull runs have several similarities. Beyond them, however, there are important notes to take.