Bitcoin's value continues to raise, which is generating more excitement in the crypto community. Let's take a look at why this is happening and if Bitcoin's current growth is similar to the 2017 bull run.
Over the past year, the value of Bitcoin has quadrupled, with most of the growth coming in December. The price of the cryptocurrency is close to $ 34,000.
Volatility of 2017 and 2020
Despite the fact that the price of Bitcoin has grown rapidly over the past year, volatility has not been at its peak. At the end of 2017, the volatility was 0.08, and now it is 0.03. This means that as markets develop and liquidity increases, the cryptocurrency market has become less volatile.
By the way, in the current period, the level of Bitcoin capitalization actively dominates the overall level of cryptocurrency capitalization. In November, it was 67%, and in the last period, on the contrary, Altcoin was more popular in the ICO market and occupied 70% of the total capitalization.
Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the CEO of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.