The exciting and wild big bull run in 2017 was attributed by many to the heavy speculations and when bitcoin waned the market panic which partly resulted into the bitcoin winter that affected us in 2018. Now, in 2019, bitcoin started to show its bullish side and this time around it is attributed to FOMO (fear of missing out).
When bitcoin can go beyond the $10,000 psychological barrier, what do you think they will attach it to? I guess the honor will go to aliens (just kidding). Seriously speaking, what can be wrong with these scenarios?
I don't really understand what kind of attaching you are asking about. Do you mean the proposed reasons for the price barrier being behind? I don't think that the market back in 2017 grew only because of speculations and now is growing out of FOMO. I think 2017 was also about investing now to be among those who did not miss the opportunity, whereas the current market growth can be attributed to various factors, such as a long belated correction after more than a year of the bearish trend, the number of users growing every day, the increasing popularity of Bitcoin etc. What I think is the difference between then and now is that now the pace is slower, and the community is more mature (no panic selling after articles about hacks, unfavorable legislation, etc.).