The Next Crypto Bull Run: Predictions and Analysis
The Bitcoin Halving and Potential ETF Approvals
Expectations for the next crypto bull run are particularly high around 2024, driven by the Bitcoin halving and potential ETF approvals. The Bitcoin halving, which occurs every four years, reduces the amount of Bitcoin that is produced by 50%. This event is expected to decrease the supply of Bitcoin, which could lead to an increase in its price.
Long-Term Crypto Bull Run
The economic growth during 2009-2019 has been referred to as a bull run, suggesting that a bull run can theoretically last for a whole decade and start relatively low. In 2019, the crypto market experienced another exhilarating crypto bull run bolstered by a myriad of factors.
Key Data Points from the 2019 Bull Run
Bitcoin exploded over the last month, adding almost 50% to its price and eliciting jubilation from the long-suffering cryptocurrency community. However, the bull market started in late 2018 into 2019, but the cryptocurrency became too bullish too fast, and the market needed a reset.
Repeat of 2019 Bull Run for Crypto Now in Play
According to investor Chris Burniske, the amount of Bitcoin held by major cryptocurrency exchanges has reached its lowest level since late May 2019, suggesting a repeat of the 2019 bull run is in play.
2019 - Run-Up to the Bull Run of 2020
In 2019, Bitcoin increased moderately, marking the first time in six years that the Bitcoin high-low price was not determined at the end of the year. This suggests that a sideways trading period may precede a reignition of a bull run.
Investor Interest Surges
Investors' speculative interest in the cryptocurrency market has surged to similar levels of the 2021 bull run, according to a recent report by Glassnode. This suggests that investors are positioning themselves for a potential bull run in the near future.
Bitcoin Has Built a Strong Foundation
According to new data analyzed by Satoshi Club, Bitcoin has built a strong foundation below $30,000, suggesting that it is well-positioned for future growth.
The Largest Crypto Bull Run in History May Be Approaching
We sit at a crossroads in the four-year cycle, transitioning from bear market caution to bull market optimism. History suggests that the largest crypto bull run in history may be fast approaching.
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