{"id":134882,"date":"2020-12-16T18:37:13","date_gmt":"2020-12-16T15:37:13","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoins-2020-explosion-is-not-the-2017-bubble-again\/"},"modified":"2020-12-16T18:37:13","modified_gmt":"2020-12-16T15:37:13","slug":"bitcoins-2020-explosion-is-not-the-2017-bubble-again","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoins-2020-explosion-is-not-the-2017-bubble-again\/","title":{"rendered":"# Bitcoin\u2019s 2020 explosion is not the 2017 bubble again"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2e30c699159\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2e30c699159\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoins-2020-explosion-is-not-the-2017-bubble-again\/#Institutional_investment_in_Bitcoin_skyrockets_in_2020\" >Institutional investment in Bitcoin skyrockets in 2020<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoins-2020-explosion-is-not-the-2017-bubble-again\/#Retail_investors_arent_just_following_a_mainstream_media_trend_anymore\" >Retail investors aren\u2019t just following a mainstream media trend anymore<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoins-2020-explosion-is-not-the-2017-bubble-again\/#Central_banks_and_governments_have_no_choice_but_to_join_the_party\" >Central banks and governments have no choice but to join the party<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoins-2020-explosion-is-not-the-2017-bubble-again\/#Retail_investors_in_emerging_markets_are_counting_on_a_Bitcoin_revolution\" >Retail investors in emerging markets are counting on a Bitcoin revolution<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoins-2020-explosion-is-not-the-2017-bubble-again\/#The_future_is_bright_for_Bitcoin\" >The future is bright for Bitcoin<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin\u2019s 2020 explosion is not the 2017 bubble again<br \/>\n<\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjAtMTIvOGM1ZmJjYzMtY2VhMy00MjFhLTg5OGMtNmM5OGUwYmVlNmMwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>\nBitcoin\u2019s (BTC) recent volatile price corrections might conjure up images of the 2017 crash in your mind, or maybe even the crash caused by COVID-19 back in March of this year. But the fact that Bitcoin has reached $20,000 for the first time in history is not a reason to sound the alarm.<\/p>\n<p>Despite the fact that the price of the world\u2019s most valuable cryptocurrency is up more than 225% this year, the current bull run we\u2019re living through is unlike the Bitcoin mania we saw back in 2017. Far from it. There are four key reasons for this:<\/p>\n<ul>\n<li>Institutional investment in the space is at an all-time high.<\/li>\n<li>There is little to no mainstream <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> attention catapulting the price this time.<\/li>\n<li>Central banks and governments are starting to see the writing on the wall.<\/li>\n<li>Retail investors in emerging markets are investing in what they hope is a revolution.<\/li>\n<\/ul>\n<p>These four reasons aren\u2019t just relevant now; they will all continue to play a role in the future growth of Bitcoin. Consider this your <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>flash. Bitcoin doesn\u2019t live in a bubble anymore, and soon, the traditional financial world is the only thing that\u2019s going to burst.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Time is our best friend: Bitcoin\u2019s 12-month trajectory to $100K<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Institutional_investment_in_Bitcoin_skyrockets_in_2020\"><\/span>Institutional investment in Bitcoin skyrockets in 2020<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin isn\u2019t just for young, tech-savvy millennials anymore. Governments, central banks and major corporations can no longer ignore its value. That\u2019s exactly why a few landmark investments by major Bitcoin backers grabbed the headlines in 2020.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Crypto could save millennials from the economy that failed them<\/em><\/strong><\/p>\n<p>A publicly traded business consulting firm called MicroStrategy now owns 38,250 Bitcoin, currently worth just under $640 million. The BTC was originally purchased for around $250 million earlier this year. Thanks to the enormous scale of the purchase and its profitability so far, company CEO Michael Saylor has become quite the Bitcoin evangelist. Apart from major investment trusts, no company owns more Bitcoin than MicroStrategy.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Corporate Bitcoin treasuries are here, which can only mean good things<\/em><\/strong><\/p>\n<p>Saylor and his company are joined by Square CEO Jack Dorsey in their enthusiasm for Bitcoin. Dorsey purchased roughly $50 million worth of the cryptocurrency for his company. What\u2019s more important than that $50-million investment, however, is that estimates suggest both Square and fellow payments competitor PayPal are swallowing up more than 70% of newly mined Bitcoin entering circulation. Square lets customers use cryptocurrency as payment; PayPal lets customers and merchants purchase Bitcoin directly from their PayPal accounts. Both gateways are currently creating quite the windfall for Bitcoin\u2019s market capitalization.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Will PayPal\u2019s crypto integration bring crypto to the masses? Experts answer<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Retail_investors_arent_just_following_a_mainstream_media_trend_anymore\"><\/span>Retail investors aren\u2019t just following a mainstream media trend anymore<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In 2017, it would have been difficult for you not to hear about Bitcoin. Whether a friend or family member talked to you about it at Christmas, or you heard about it in the news or in TV commercials, the fact is nearly every major media outlet was covering the price boom at the time.<\/p>\n<p>Fast-forward to the present day, and you can take a look at Google Trends to see that searches for the word Bitcoin have been trending at a high level recently, yet apart from investment-specific television programming, you don\u2019t hear about Bitcoin in the mainstream media nearly as much, with some exceptions of course. <\/p>\n<p>This means we\u2019ve reached a new milestone for adoption. More and more people know about cryptocurrencies than ever before, and now they follow the asset class more closely.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin is the best treasury reserve asset humanity\u2019s ever had<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Central_banks_and_governments_have_no_choice_but_to_join_the_party\"><\/span>Central banks and governments have no choice but to join the party<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Russia, China, Canada, the European Union and many other countries are either already working on their own central bank digital currencies or publishing white papers detailing their intentions to do so. Moving away from paper money and plastic credit cards is the natural next step for the world as payment technologies continue to advance. But as crypto enthusiasts know, a digital currency built on a blockchain owned by a central bank or government isn\u2019t the same as one built on decentralized <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Central bank digital currencies are dead in the water<\/em><\/strong><\/p>\n<p>This is obviously a sign that the powers that be in the old financial world are seeing the writing on the wall. They are doing everything they can to protect a system that favors those in control. But CBDCs and more stringent government regulations will only continue to blur the lines between government-backed digital currencies and Bitcoin. It\u2019s only a matter of time before society chooses the latter over the former.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Retail_investors_in_emerging_markets_are_counting_on_a_Bitcoin_revolution\"><\/span>Retail investors in emerging markets are counting on a Bitcoin revolution<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Not only are Google searches for the word Bitcoin at an all-time high, but the two countries with the highest surge in search volume at the moment are Nigeria and South Africa, both of which are developing nations with unique challenges. It turns out that search volume is not just a sign of new crypto investors doing research; it\u2019s leading to large amounts of capital flowing into the space. <\/p>\n<p>Marcus Swanepoel, CEO of Luno \u2014 a crypto exchange serving emerging markets \u2014 recently <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/marcswane\/status\/1331554489170595841\">tweeted<\/a> that purchase volumes on the company\u2019s exchange have <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>led among retail investors in Nigeria, South Africa, Malaysia and Indonesia.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Emerging technologies can change the African financial landscape<\/em><\/strong><\/p>\n<p>While institutional investment is surely a driving force, pushing the value of Bitcoin higher, people around the world, who can no longer trust the economies they used to depend on, are putting their capital to work and betting on a Bitcoin revolution that\u2019s going to change their future for the better.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_future_is_bright_for_Bitcoin\"><\/span>The future is bright for Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Don\u2019t be mistaken. There are certainly many challenges still to come for Bitcoin and other cryptocurrencies. Just this month, Coinbase announced the suspension of margin trading because of changing government regulations. The news is a reminder that governments will continue to try to regulate everything, and detractors will continue to denounce Bitcoin\u2019s fundamental value.<\/p>\n<p>Still, the future for Bitcoin and all other cryptocurrencies is bright. Cameron and Tyler Winklevoss think Bitcoin is going to be worth more than $500,000 per coin within the next 10 years. An advisor at Citibank sees a $300,000 Bitcoin much sooner than that. <\/p>\n<p>Those numbers might seem like they are way too optimistic, but remember, it wasn\u2019t that long ago that a $25,000 Bitcoin seemed impossible, and now we are almost there. Except that from here on out, the path to mass adoption is no longer about educating new investors, it\u2019s about getting people, corporations and, eventually, governments to finally put their capital where their crypto is\u2026 and they will all do so sooner than you think.<\/p>\n<p class=\"post-content__disclaimer\"><em>This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/em><\/p>\n<p class=\"post-content__disclaimer\"><em>The views, thoughts and opinions expressed here are the author\u2019s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.<\/em><\/p>\n<div>\n<div style=\"background: rgb(239, 239, 239); border: 1px solid rgb(204, 204, 204); padding: 10px;\">\n<strong>Mark Binns<\/strong> is the CEO of BIGG Digital Assets Inc. He believes the future of crypto is a safe, compliant and regulated environment. He first came across crypto in 2013 and was instantly hooked. As the CEO of BIGG Digital Assets, Mark oversees the Blockchain Intelligence Group, the maker of Qlue, BitRank and Netcoins.<\/div>\n<\/div>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-s-2020-explosion-is-not-the-2017-bubble-again\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin\u2019s 2020 explosion is not the 2017 bubble again &#8221; Bitcoin\u2019s (BTC) recent volatile price corrections might conjure up images of the 2017 crash in your mind, or maybe even the crash caused by COVID-19 back in March of this year. But the fact that Bitcoin has reached $20,000 for the first time in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":134883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/8c5fbcc3-cea3-421a-898c-6c98e0bee6c0.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,75046,74863,76574,74927,117,73711],"class_list":["post-134882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cbdc","tag-cryptocurrencies","tag-paypal","tag-square","tag-business","tag-investments"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/134882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=134882"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/134882\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/134883"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=134882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=134882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=134882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}