Bitcoin’s price is hurtling toward its previous all-time high of $20,000. But it will take a much bigger surge before it feels like 2017 again.
The Bitcoin world is in a strange situation right now.
Prices are booming but few are celebrating. Big corporations are holding Bitcoin and making huge profits from doing so, but they’re not receiving a lot of attention. Even billionaire investors are backing Bitcoin, and yet only some outside the crypto bubble are taking note. So, why hasn’t Bitcoin mania kicked in yet?
“In my opinion, most advocates/investors in cryptocurrencies have a long-term belief/outlook on them, and it was no doubt in their minds that we would return to the ATH of 2017, much like it has in previous cycles,” John Dantoni, research analyst at The Block, told Decrypt.
“While Bitcoin has done very well year to date, and will likely even experience a correction (at some point), this doesn’t feel like euphoria to me,” he added.
Read more: Decrypt