How much “Bitcoin Bull Run” of 2020/2021 differ from that of 2017 for traders

Spread the love


As Bitcoin‘s price rallyes, there are a few traders who want a last price drop to fill their pockets. That’s not something merchants will conventionally ask for, but back in 2017, there were almost 7 chances to purchase more Bitcoin until the price soared to ATH. 2020 did not have many of these prospects, and there was a demand for the same in 2021.

Famous investor and crypto Twitter influencer @asiahodl wished Bitcoin to crash nearly 30 percent for the last time before another pump. Most of the reactions on this Twitter thread were amusing, since it’s not conventional for a trader to wish for a decline.

Why the previous Bitcoin top is shrinking on price charts

Source: Twitter

Back in 2013, the bull run did not shoot off the charts, but in 2021, the bull run is pushing higher prices in full tilt, to the point that it has outperformed the 2017 bull run in virtually all respects. The two price rallyes are totally different from each other and the discrepancy is more structural than the technological one.

This time, the drivers and the adopters have renewed their trust in institutional investors. The charts may see a nostalgic check, because the last time the market witnessed a bullfight, there was a decline in optimism that, in turn, gave way to a cascading price drop. Traders are closing leveraged exposure unaware of the path that the market trend will go as ePlan B’s S2F model works like clockwork:

Why the previous Bitcoin top is shrinking on price charts

Source: Twitter

When the 2017 top shrinks again, what do we hope to see before the next half? A decline or a shift on the side? Another fascinating occurrence seen at this rally is the rising number of bitcoin whales. The 100 largest Bitcoin transactions in the last 24 hours amounted to 1262327 BTC, or just over 51 percent of all Bitcoin transactions, based on bitinfochart results. Looking at the rise in whale activity, the 2017 rally is shrinking ahead of the latest record discovered in 2020 and the first week of 2021.

 792 Interactions,  2 today

Leave a Reply

Your email address will not be published. Required fields are marked *

Contact Us

%d bloggers like this: