MCS | The BTC Bull Market In 2020: Why Is It Different From 2017?

MCS | The BTC Bull Market In 2020: Why Is It Different From 2017?


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Recently, the price of Bitcoin (BTC) is in the range of USD 18,000, and it is close to the peak price of 2017. Due to the steep rise in the price of Bitcoin (BTC) within a short period of time, voices of concern about the price instability and bubble are coming out everywhere. In contrast, many experts say that the current rise in Bitcoin (BTC) price is fundamentally different from the rise in 2017.

While the Bitcoin (BTC) market in 2017 was a direct investment market centered on individual investors, the Bitcoin market in 2020 is a market based on derivatives market and trust management services within the institutional sphere.

Compared to 2017, the investment infrastructure was expanded, and through this, it was an opportunity to significantly lower the barrier to investment in the cryptocurrency market, from many institutions to individuals. A cryptocurrency investment fund GRAYSCALE's actual trust fund (GBTC) and Bitcoin (BTC) holdings are increasing sharply day-to-day, and the monthly trading volume of BAKKT futures is also breaking the record.

According to, a media specialized in cryptocurrency, the amount of cryptocurrency assets currently managed by the US cryptocurrency exchange Coinbase on behalf of institutional investors is USD 20 billion, which has increased by about USD 14 billion since April 2020.

In addition to the explosive growth of trust funds, companies such as MicroStrategy, a listed company on the New York Stock Exchange, are investing directly in Bitcoin (BTC), and as the price of Bitcoin (BTC) rises, its stock price rises.

In addition, the outbreak of the COVID-19 pandemic was also an opportunity to lead the rise of the Bitcoin (BTC) price. In order to boost the economy in this crisis, countries have implemented quantitative easing of currencies, and a lot of the liquidity released on the market has flowed into safe assets such as gold and Bitcoin (BTC). This also became one of the pillars of the rise in the price of Bitcoin, and the stimulus plan through bond issuance of developed countries, mainly in the US, is expected to continue, which is also expected to serve as a continuing good news for the Bitcoin (BTC) market.

Of those who experienced the Bitcoin (BTC) bull market in 2017, many had to go through terrible experiences of the price drop in 2018. In 2020, where various circumstances have changed, what will the peak price of Bitcoin (BTC) be this time?

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