The current bull market of 2020-2021 is completely different from the last bull market of 2016-2017 though the technical chart analysis shows quite a lot of similarities however the fundamentals backing it up are completely distinct.
Let’s highlight some key fundamental differences below.
2017 Bull Run: Propelled by retail investors looking for quick gains and easy ways to get rich.
2020 Bull Run: Propelled by institutional investors having come to full understanding of the idea about bitcoin as seen in the embrace of the likes of Paypal, Square, Sachs, etc.
2017 Bull Run: ICO Scams, hacked exchanges and high peak of Fraud
2020 Bull Run: National acceptance as seen in the removal of bans, more regulatory bodies, Taxable asset, etc. Real-world crypto implementation, quality projects, more crypto security and exchange reliability.
2017 Bull Run: Less recognition, several bans and no national acceptance.
2020 Bull Run: Full recognition as a store of value and a hedge against inflation(as seen by Goldman Sachs, JP Morgan, Citibank, Grayscale,etc).
2017 Bull Run: Limited options for crypto purchases and access to bitcoin
2020 Bull Run: Unlimited options to purchase bitcoin and cryptos, as the likes of Paypal, Binance, Simplex, bitcoin ATMs and so much more availabilities…
Considering the solid fundamentals backing up the 2020 rally and not just the regular online hypes and shilling. This time around the rally will be nothing like we have ever seen a mega change is about to happen HODL your lots folks
There’s just 16million of this.
🟢 Trend Resistance R1: $20,000
🟠 Trend Support S1: $16,000
❇️ Key Resistance R1: $25,000
🔴 Key Support S1: $13,000
⬆️ Trend Indication: Bullish
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