Bitcoin is inching it's way up towards $10k, and it's much different than the first time it hit $10k

Bitcoin is looking like it might make a run at $10k within the next couple days, but it doesn't feel all that euphoric this time around.

Rewind the clock back to late 2017, when bitcoin first hit $10k, and things were quite a bit different.

The speculative mania was reaching fever pitch as bitcoin had started that run below $1,000 and gone up over 10x in less than a year.

There weren't many derivative products out there, only a handful of really popular exchanges, and many people were hearing about bitcoin for the very first time.

If you recall, many people were buying bitcoin over Thanksgiving after their long lost cousin or brother was telling them about the fortunes they were making in this new tech called bitcoin.

This time around, things are a lot different...

Fast forward 2.5 years and things are much different as bitcoin approaches $10k.

This time there is no speculative frenzy brewing.

People from all corners have heard about bitcoin by now.

There are a plethora of exchanges from which to buy bitcoin.

The regulations are now a little more clear surrounding it, and there are all sorts of derivative products if one doesn't want to touch the coin itself.

Plus, there was no halving event on the horizon during that last run up...

This run at $10k is likely much more sustainable...

Due to many of the briefly mentioned reasons listed above, this run up in bitcoin is likely much more sustainable.

There won't be a flood of retail trying to rush out all at the same time.

People are much more educated about what they own, and bitcoin itself is much more established.

Two things that bread confidence.

Plus it will be starting this move from a much higher base. Instead of people riding along that bought under $1k, most have bought at $4k or higher...

They won't be as quick to pull the sell trigger due to that.

Plus, since bitcoin has traded around these levels for close to 3 years now, people are just overall much more comfortable with them.

And don't forget about the halving...

That is the ace in the hole.

During the last two halvings, bitcoin saw exponential gains in the 12-18 months following the halving.

Given that we are already near $10k pre-halving, things look very good for us to blow past that number on our way to much much higher prices.

Last time $10k was the destination, this time it's looking like it's going to be the launching pad.

Stay informed my friends.

Image Source:

https://blockpublisher.com/after-10k-bitcoin-btc-price-fomo-will-make-it-the-biggest-crypto-bull-run/

-Doc