Back in 2017, Bitcoin managed to increase its value by 2,000%. It went from $1,000 in January to $20k in December.
Such activity from an asset has not been seen by people in the market and this led to Bitcoin being called ‘digital gold.’
This whole thing has unfortunately turned out to be a speculative bubble as UToday puts it because BTC fell back to almost $3,000.
The same online publication writes that a resurgence is currently happening as the price of the major crypto begins to go up once again, and investors are dying of curiosity to see what happens.
This may be a slower and more measured return to the bullish market, and a researcher suggested that the next bull run from BTC will take the crypto higher than previously.
More powerful bull run
Tom Shaughnessy is a popular researcher in the industry and co-founder at Delphi Digital.
He 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 the 2017 bull run was triggered by a hype 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.