Bitcoin went as much as $33,000 in just a short period of time. Etherium plummeted too and is on its way to reaching $1,000, while Litecoin is valued at $154 per token. We're definitely in a bull run again, but this time a lot of people were educated enough about the technology cryptocurrencies provide.
There has been a proven history with this prediction and I hope this time, it will still be the same pattern for Bitcoin and crypto.
Altcoins will follow after the Bitcoin bull run.
Let's take a look at the price history of bitcoin and other top cryptocurrencies through the years:
Year 2017
Bitcoin's price chart from Jan 1, 2017 - December 31, 2017 courtesy of @coingecko
2017 was the year of Bitcoin and cryptocurrency's massive introduction to the people. By that time, the news was all over the world and people have gone crazy buying because of the "fear of missing out (FOMO)". Others have sold their properties just to accumulate bitcoin/s, some have even loaned just to hop into crypto, others have quit their job and focus on cryptocurrency trading.
By looking at the chart, it's in the latter part of 2020 where Bitcoin got its all-time high of reaching the $20,000 mark area. Notice how Bitcoin's price (in USD) affected these coins which belong to the top 10 in terms of Market Capitalization:
| Etherium | EOS |
|---|---|
 |  |
| Ripple | Litecoin |
 |  |
You should see a similar pattern, especially in the latter part of the year. Etherium has the closest similar figure in the charts above because it's the coin second to Bitcoin. By that massive bull run, "most" of other cryptocurrencies like Steem, Tron, IOTA, etc have plummeted in their prices. Steem went from $0.12 each to almost reaching $9.00 and Steem-backed dollars even went a crazy $20. Almost everyone on Steem had a party at that time.
Now let's take a look at the year 2018:
Year 2018
Bitcoin's price chart from Jan 1, 2018 - December 31, 2018 courtesy of @coingecko
This year was the year almost all crypto assets lost their value. If 2017 was a year of joy, 2018 was despair for the crypto community. This was the year where a lot of ICO scams had happened. Remember the Bitconnect thing? Yes, it was 2018.
After Bitcoin and cryptocurrencies were introduced, evil people took the advantage of getting people's money by offering ICO's with huge returns. People left because of the shady things that had happened. Some called it the "declogging" stage. Non-believers, people who just joined the hype, etc have been removed.
| Etherium | EOS |
|---|---|
 |  |
| Ripple | Litecoin |
 |  |
The same as what hat happened to Bitcoin this year, the charts have similar looks. The influence of Bitcoin as a mother coin was shown here. There were lots of doubts and rumors about the inconsistency and security of the blockchain. Will quantum computing break the code of blockchain?
People quickly moved on. Some of us have actually hoped for a re-bounce on the latter year. But what had happened is that it even went low. Such a crazy hope, especially for Steem at that time.
Year 2019
Bitcoin's price chart from Jan 1, 2019 - December 31, 2019 courtesy of @coingecko
I can tell, in 2019 people have matured. Most of the people who still keep in touch with cryptocurrency were people that have understood the basics of cryptocurrency. How it's being used and the technology it provides. In short, people who have entered the crypto space were now educated than before.
There was a steady increase in adoption from institutions and it seems that the media wasn't pretty much hyped about it. If you're into the news, I can say the hype was different from 2017 and 2018. Though it's not that impactful, the foot was set.
| Etherium | EOS |
|---|---|
 |  |
| Ripple | Litecoin |
 |  |
By looking at the chart, these cryptocurrencies have charts that are almost a reflection of what bitcoin has been doing in 2019.
Year 2020
The year 2020 came from just a typical silent 2020 to a far much better price. Imagine bitcoin just easily went $33,000 in a span of days. The activity in December 2020 was massive and it seems like people and the institutions have already persuaded that cryptocurrencies have a bright future.
It has influenced other cryptocurrencies too. Etherium just passed the $1000 mark and people have been crazy!
Bitcoin's price chart from Jan 1, 2020 - December 31, 2020 courtesy of @coingecko
| Etherium | EOS |
|---|---|
 |  |
| Ripple | Litecoin |
 |  |
By the looks of it. Etherium and Litecoin are in the trend of following Bitcoin's surge in prices. Ripple, on the other hand, is fighting for a case and it seemed like it's the reason why the price has gone down.
But overall, the charts above are a shred of better evidence that a bull run should be coming at any time. Will it include Hive? I hope so and I'm looking forward to it happening. Though we are a new blockchain after a crazy drama with Steem, the developments made from this blockchain is tremendous! That's why Hive is a coin interesting to see.
Hive
Too much of an undervalue right? This token is just currently sitting at $0.11 each! I'm really hoping positive things that are currently happening in the blockchain will support Hive's growth and the community.
For me, it's the best time to buy Hive and I'll be one of the happiest men to see Hive flourish!
Posted Using LeoFinance Beta
Interesting. According to my research, Steem began its price action during the end of the last bull run, perhaps the same will happen on hive. Logically, when the bitcoin bubble burst and people start to take profit, one of the best places to put those profits to work is on hive, except ofcourse DeFi apps steal the show. Its just that Defi apps compared to Hive, Hive is relatively easier to operate, plus no such things as impermament loss on Hive
I'm hoping things will be the same for Hive. This blockchain is truly undervalued. Maybe soon, once the prices become stable, money will be poured over to other projects!
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