In recent weeks, the cryptocurrency market has been a hive of activity. This is largely in part to Bitcoin (available on Coinbase) price’s resurgence of late. And what a resurgence. The world’s largest digital asset by market cap is currently selling for $8,724 USD per coin (to press time and according to coinmarketcap.com). It has grown an asTron (available on Binance)omical 186% in little under 5 months.

Bitcoin (available on Coinbase) Price – A Fall From Grace

As Bitcoin (available on Coinbase) heads towards the $9k mark, it nears almost half of its all-time high of $20,000. Hit in late 2017, those glory days were soon wiped clean in 2018—a bearish downturn took over and across the year, the coin lost 70% of its value.

So at it’s highest high, the digital coin was worth over $20,000. But jump forward to early 2019 and the coin was scraping lows of $3,250 approx.

As expected, the recent comeback has analysts talking and its no surprise. Many now believe that this bull run will eclipse Bitcoin (available on Coinbase)’s iconic 2017 one. There are several key differences between that time and now that make this plausible.

So let’s check out some of the main reasons analysts expect this run to last.

A New Level of FOMO

FOMO, or the Fear Of Missing Out, has always played a role in dictating Bitcoin (available on Coinbase) price. It’s simple psychology that people don’t want to miss out on a good thing. But what is very interesting for Bitcoin (available on Coinbase) this time around, is that investors now know that a climb to $20,000 is possible because it has done just that before.

This time, we know a climb to $20,000 is possible, therefore it’s probable that investors will flock to Bitcoin (available on Coinbase) in their droves for fear of missing out on an expected massive rally.

Industry Involvement

Bitcoin (available on Coinbase) now has a greater variety of platforms than before and this should impact on Bitcoin (available on Coinbase) price. These give investors exposure into the crypto markets and, simply put, make investing in Bitcoin (available on Coinbase) much easier now than in 2017.

Platforms such as Bakkt, Fidelity and Square, among many others, have added support for Bitcoin (available on Coinbase) in their own way. This leads to an overall climate that is more accepting of the coin and encourages other institutions to jump on board.

The Impending Halvening in 2020

There is somETHing called “the halvening” on the horizon for Bitcoin (available on Coinbase). This is an event written into Bitcoin (available on Coinbase)’s code and it will cut all mining rewards in half. Expected to happen in 2020, it will effectively diminish supply. As with anything, as supply goes down, demand and price tend to go up and we can argue that Bitcoin (available on Coinbase) is no different. So this current run may be spurred on by miner’s and investors hoarding as much Bitcoin (available on Coinbase) as possible now before the halvening occurs and supply is lessened.