Bitcoin's fees, security, and adoption have improved since the last bull market

When compared to 2017's bull market, Bitcoin's transaction fees, network hashrate, and adoption have improved.

During the 2017 bull run, the slow nature of bitcoin transactions and the accompanying high fees made bitcoin almost impractical to use.

To reduce congestion on the network, Segregated Witness was implemented to reduce transaction size whilst the Lightning network was built to allow some transactions to be made off the main Bitcoin blockchain.

At the time of writing, the Lightning network had 7,800 nodes, 39,000 channels and a capacity of 1,000 BTC. Transactions using SegWit also accounted for 40 percent of all bitcoin transactions.

Clearly, transaction fees are comparatively lower than they were during the previous bull market.

It is too early to declare SegWit and Lightning as effective solutions for bitcoin as a medium-of-exchange, especially considering the sharp rise in fees following the recent rally to the $5,000 mark.

Bitcoin adoption has been on the rise since it gained mainstream media attention in 2017.

Finally, having experienced both bull and bear markets, individuals who joined the Bitcoin community in 2017 have become more knowledgeable, in a sense, by maturing with the market.

Since the last bull market, Bitcoin's security, technology, and adoption have improved-with few signs of slowing.

The magnitude of impact that Bitcoin has had on society and technology within the last 10 years is truly a marvel and it's exciting to imagine what possibilities the next decade will hold.