Bitcoin is different
If you were around in 2017, you’ll know that reaching $10,000 was a major milestone and was followed by a year-long bear market. However, there are multiple reasons which clearly suggest that this time is different.
Bitcoin is roaring back against all odds and, by many accounts, is stronger than ever.
Here are 3 reasons why, this time, things are different for Bitcoin.
-Less Active Addresses
If we compare where we are now to the top of 2017, there are 24 percent fewer active addresses today. This means that we have not yet reached the frenzy that caused the bubble in 2017.
-Network Fees Are Cheaper
With the implementation of SegWit (segregated witness) and transaction batching, transactions are significantly cheaper on Bitcoin now compared to in 2017.
-Bitcoin Hash Rate Is at All-Time-High
Ultimately, the number of computation work done on Bitcoin’s network is growing and is now at an all-time high. What this means is that the network is fundamentally more secure than it ever has been.
Do you agree that things are different this time for Bitcoin? Let us know your thoughts in the comments below.