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This is How Bitcoin Rally in H1 Was Different From 2017

01 Aug This is How Bitcoin Rally in H1 Was Different From 2017

Posted at 18:46h in Bitcoin News by

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This is How Bitcoin Rally in H1 Was Different From 2017 101
Source: iStock/Tramino

Four differences between the bitcoin rally in the first half of this year and the rally in 2017 show that this time it was institutional money that most likely helped the price jump way above USD 13,000 in June, according to a report by CoinShares, a UK-based provider of digital asset investment products.

The H1 2019 Crypto Report mentioned four factors that were present during the 2017 rally that were absent today:

  1. Widespread media attention
  2. Spikes in the use of “bitcoin” as a search phrase on Google
  3. Spikes in bitcoin-related tweets
  4. A corresponding rally in altcoins

Truth to be told, there were spikes on Google and Twitter, and the mainstream media followed the rally, however it was nothing similar to 2017.

Let’s take a look at the Google trends chart:

This is How Bitcoin Rally in H1 Was Different From 2017 102
Source: bitinfocharts.com

In either case, the report, authored by CoinShares’ research head Christopher Bendiksen and analyst Samuel Gibbons, went on to argue that since these factors this time were…

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