Is 'This Time Is Different' Really Different for Bitcoin Price?

Since mid-August, analysts have started talking about the differences in this bitcoin ($BTC) cycle more often again, looking for what has changed in the market. Once more, this chatter fits the usual pattern, seen across $BTC’s history and in attempts to understand this still-maturing market. Every time we heard that “this time is different,” it usually was about a new type of buyer that would hold the ground and stop the next bitcoin price crash, finally finishing the four-year cycle story.

Bright Bitcoin Price Hopes Met Harsh Reality Every Time

In 2014, a poster on X said they felt that the critical mass had finally arrived and “something feels different now.” In that cycle, $BTC crashed around 85%. Then, in 2017, “Wall Street” arrived via futures contracts, and this was “seen as a big step towards financial legitimacy of the digital currency.” $BTC fell by around 84%. In 2020-2021, Strategy (then MicroStrategy), Tesla, and other companies were buying bitcoin.

“Institutional adoption of #Bitcoin strengthens with the arrival of Goldman Sachs to the marketplace. This news should accelerate the plans of other major banks to offer Bitcoin services,” Strategy’s Michael Saylor posted in March 2021. The price crashed by around 77%.