4 Big Reasons Bitcoin's Price Will Probably Not Stop at $20K This Time

As bitcoin's price keeps setting new yearly highs, the question on everyone's mind right now is whether it's different this time.

As many experts pointed out, BTC going above the key psychological $10,000 mark is likely to trigger FOMO, according to Fundstrat's Tom Lee, who adds that bitcoin can now easily take out its all-time highs.

"CME Bitcoin futures shows growing signs of institutional interest," CME Group tweeted June 18.

Other indicators, such as the GBTC price premium as well as record volume for bitcoin derivatives exchange BitMEX, also suggests that "Smart money" is pouring in.

As Cointelegraph reported on Friday, hash rate hit a new all-time high at over 65,000,000 TH/s. In other words, Bitcoin is more secure than ever and would require an unfathomable amount of computing power to affect the network.

Daily on-chain transaction volume, block size and other metrics are also confirming that more people than ever are using bitcoin.

A popular bitcoin market analyst known as PlanB suggests that investors may not be waiting this time around for the expected reduction in supply.

These "Hodlers" are confident that bitcoin - with its fixed supply - will outperform fiat currencies, whose supply is growing at an accelerating pace over the long term.

The biggest macroeconomic picture looks bright for bitcoin investors who are dumping ever-depreciating fiat currencies for hard-capped "Digital gold."

Historic BTC market cycles, rising institutional interest alongside an increasingly robust network fundamentals, as well as the confirmed depreciating value of fiat currencies, could all propel bitcoin's price orders of magnitude higher than in 2017.Crypto markets one-week performance.