With a bottom essentially confirmed, the price of Bitcoin has risen sharply due to FOMO . The resurgence of speculative hope has caused may crypto analysts to reflect on the last crypto bull run that took Bitcoin to its all-time high of $20,000, and consider what’s changed since that could lead to an even larger bull run this time around.
Key Factors Fueling The Next Bull Run To Even Higher Heights
When Bitcoin exploded into the public eye in 2017, the vast majority of the general public had never before heard of the cryptocurrency created by Satoshi Nakamoto. The public’s curiosity being piqued and their front-seat view as Bitcoin nearly doubled in a month from $10,000 to $20,000 sparked FOMO buying at the peak of the bubble pop.
A bear market erased all of the positive sentiment around the crypto space, with many calling for Bitcoin’s funeral as it fell lower and lower in value.
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But in recent weeks, Bitcoin has once again turned around and gone parabolic , rocketing from $4,200 to current levels above $8,000 in less than 6 weeks. The surge has caused the market to once again speculate and dream of what riches the next bull run will bring.
Most crypto analysts expect the next bull run to eclipse all gains witnessed during the 2016-2017 bull cycle, and for good reason.
Key difference between now and in 2017…
Now normies know $20k $BTC is possible. The FOMO will be biblical.
— Bitcoin Birch