Bitcoin soared in a few short hours blasting through the $5,000 barrier, and HODLers are rubbing their hands with glee preparing for the next epic run. But is this going to be 2017 all over again? No. Here are seven reasons why Bitcoin looks even better now than in 2017.
For any market to reach maturity, it must go through several bullish and bearish cycles. The latest bear market for Bitcoin has been its longest to date, but long enough to shake out the weak hands, the curious speculators, and in-and-out investors. Those who saw Bitcoin as a chance for getting rich overnight are out of the game.
The key takeaway is that in spite of the bear market, Bitcoin has been building. There are now far better fundamentals in place than there were two years ago.
Bitcoin usage has been steadily climbing for 15 months. Transactions, hash rate are all up despite the ‘Crypto Winter’ and 1MB+ Bitcoin block sizes are now the new normal.
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