In 2017, the most important digital asset increased in value by about 2,000%. It went from $1,000 – the January 2017 price – to almost $20,000 in December. Such activity from an asset has not been seen by investors and crypto enthusiasts so far.
This led to Bitcoin being called “digital gold.”
On the other hand, it’s also important to note the fact that this whole thing turned out to be a speculative bubble as reported by UToday. BTC fell to about $3,000.
The same online magazine said that a resurgence is currently happening as the price of BTC and altcoins begins to go up once again. Investors are curious about what’s happening to the prices this time.
UToday also writes that this comeback may be slower and the return of the bullish market may be a more measured one as the crypto market managed to mature a lot since 2017.
New BTC prediction
Tom Shaughnessy, the popular researcher in the industry and co-founder at Delphi Digital, said that this recovery would lead to a bull run that will be more powerful than the one in 2017.
“He posted on Twitter that a hype triggered the 2017 bull run due to new crypto technology at the time, which probably explains why it didn’t last, but the coming one will be based on an appreciation of the tech and its potential to offer solutions to financial problems with the present institution, notes UToday,” Oracle Times reported.
The last $BTC bull run was driven by hype around magical internet money
The next one will be driven by an actual macro based understanding of the benefits of a non-sovereign, capped, digital SoV bolstered by lightning ⚡️
The next bull run will be bigger ?
— Tom Shaughnessy? (@Shaughnessy119) April 17, 2019
The online magazine continued and said that today’s cryosphere is flooded by institutionalized and enterprise use cases.
There are IBM, Amazon, Microsoft and more giant companies that are currently looking at how blockchain can be used, and how the digital assets can help with this.
Because of institutional investors, the growth of interest in the crypto space will be on the rise more and more.
