Bitcoin now vs Bitcoin 2017

Positively, 2020 is a year recognized in all its importance, not only on the human side of the spread of the Corona pandemic, but on the global level related to money, the same number of project ideas changed and Bitcoin became uniquely viewed in contrast to what it was before.

The cost of Bitcoin rose from a notch of $ 4,000 in March to 18,600 at the hour of writing, making Bitcoin the best-ever speculative resource in 2020.

Bitcoin Mining Bonus:

Bitcoin has been on the upswing since May, the month the Bitcoin mining bonus split halfway, as the cost of Bitcoin has since risen near a record high of $ 20,000.

Bitcoin split ... an initial visit and its importance for cryptocurrency

Bitcoin is trading at $ 18,641 at the time of this writing, shifting away from the amount of bitcoins left for mining, as there are still only 3.4 million Bitcoin units and need to be completely separated continuously 2140.

In 2017, Bitcoin's rise was sudden and rapid, while in 2020 the rise was for an extended time frame, despite the expansion of the huge financial professionals' desire for cash.

According to the investigation by Chainalysis, there is a big difference somewhere in the range of 2017 and 2020, as this year the growing hunger for Bitcoin has been observed in relation to institutional financial professionals.

The investigation also revealed that the bitcoin scale in illiquid wallets has continued to rise continuously, as these wallets contain more than 70% of all bitcoins that have been mined recently.

Chainalysis cited the expansion in high-rating settlements and the exit of Bitcoin from the swap stages this year as further evidence that institutional speculators are more involved in the market compared to 2017.

This shows that the people behind these exchanges have more money to spend, as we would expect when larger speculators get involved.

Bitcoin's cost multiplied by:

Revenue development from institutional financial professionals has doubled the cost of Bitcoin since it split into equal parts.

Bitcoin traded at $ 8,500 in May 2020 the day the bitcoin mining bonus split happened.

While the institutional speculators had a significant function and influence in driving Bitcoin's value, there were also a few different elements that pushed the cost higher, for example, the Chinese government's nervousness over the bitcoin rig.

The weight of the Chinese government is consolidating its grip on the bitcoin mining market, and the same number of mining pools in China have not been able to sell bitcoin.

Therefore, there has been a reduction in bitcoin selling pressure, and as desired, tends to argue that the Chinese government has interfered in a roundabout way in extending Bitcoin's rise to its highest level in three years.

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