- In 2017, bullish activity spread throughout the industry and saw cryptocurrencies of all kinds spike in price.
- Biggest of which was the leading cryptocurrency, bitcoin.
In 2017, bullish activity spread throughout the industry and saw cryptocurrencies of all kinds spike in price. Biggest of which was the leading cryptocurrency, bitcoin. In this time, around six months, bitcoin rose from $1000 to $20,000 and even though the effect that it had is long gone, people are wondering whether something like this could ever happen again in the future.
One enthusiast of cryptocurrency has given his opinion on the matter saying that another round of bullish activity could come eventually but it will be nothing like what we saw in 2017. Known as @stevecrypt0 on Twitter, the enthusiast said that it will be different from what we saw three years ago. You can see his tweet below:
We will but in a different way.— Steve (@stevecrypt0) June 21, 2020
Legit projects (protocols/oracles/DeFi) will lead the way and is where I believe big money will focus on.
Our little crypto market is still tiny :)
Currently, the entire market of crypto has a market capitalisation of more than $270 billion. The asset is often compared to gold however, gold's capitalisation comes in at just over $8 trillion. Of course, bitcoin has been in existence for just over 10 years but gold has been a thing in the world for centuries. The two are often compared to each other as an equal or even better than the other, even though one is just in its infancy in the grand scheme of things.
Many people are wishing for the leading cryptocurrency to return to highs of 2017. Some people have even predicted that bitcoin will reach $100,000 as early as 2021.