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  • THE CRYPTO BULL RUN WILL START IN 2024📈

THE CRYPTO BULL RUN WILL START IN 2024📈

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Author

Maverick
October 17, 2023

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Introduction
(CREDITS: Brian Jung)

3 min read…

The cryptocurrency market is known for its extreme volatility and unpredictable nature, making it a breeding ground for speculation and uncertainty.

However, there is a growing belief that the crypto bull market could make a comeback as early as 2024.

In this article,

we will explore seven reasons supported by data, evidence, and research that suggest the next bull run might be just around the corner.

THE FALL HAS STOPPED
1. The Bear Market is Likely Over

The first and most crucial indicator is the possibility that the bear market has already run its course.

Following Bitcoin's record high of $69,000 in November 2021, the cryptocurrency endured a significant decline throughout 2022, dropping by more than 77% to stabilize around $15,500. Some analysts now believe that Bitcoin hit its low point in November 2022.

Unless it drops below $15,000, this would signify that the bear market low point has been reached.

Key Points:

  • Historical data indicates that Bitcoin may have already hit its low point.

  • The overall trend of Bitcoin's price remains upward.

  • Unless a significant event occurs, a return to previous bear market lows is unlikely.

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CRYPTO EVENT
2. Upcoming Bitcoin Halving Cycle

The next Bitcoin halving event is expected to take place in 2024, potentially in the first or second quarter. Historical data shows that Bitcoin's price tends to rise significantly after each halving event. This event could be a catalyst for the next bull market.

Key Points:

  • Previous Bitcoin halving events have led to substantial price increases.

  • If the historical trend continues, a new all-time high could be expected around mid-2025.

  • Accumulation of Bitcoin by whales suggests optimism for a price increase.

TAKE ACTION
3. Growing Market Optimism

While it may seem like the majority of people are still cautious about the market, significant financial institutions are showing less fear of a severe economic downturn. For example, Goldman Sachs has lowered its estimated chance of a U.S. recession, signaling a positive economic outlook.

Key Points:

  • Growing optimism among institutions and banks can indicate market stability.

  • Contrary to predictions of an impending crash, some indicators suggest a soft landing.

  • Market cycles are natural and occur periodically.

MARKET INCREASING
4. Institutional Adoption on the Rise

The crypto market is seeing increased institutional adoption, with the potential approval of Bitcoin exchange-traded funds (ETFs) being a game-changer. Publicly traded companies hold a substantial amount of Bitcoin, and even organizations like NASA are exploring blockchain technology.

Key Points:

  • Approval of Bitcoin ETFs could bring substantial institutional capital into the market.

  • Publicly traded companies collectively hold billions of dollars worth of Bitcoin.

  • NASA's involvement in blockchain technology shows the expanding scope of crypto.

PROJECTS
5. Ongoing Innovation in Crypto Projects

Top cryptocurrency projects continue to innovate, with significant developments like the Ethereum merge event on the horizon. Despite a temporary lack of interest in the market, these projects are preparing for the next bull run.

Key Points:

  • Ongoing development in crypto projects ensures readiness for future market surges.

  • Innovation is a key driver of market growth and investor confidence.

METAVERSE AND NFT
6. Metaverse and NFT Development

The development of the metaverse and non-fungible tokens (NFTs) is gaining momentum. Companies like Apple are rumored to release VR headsets, potentially driving mass adoption of metaverse platforms and further legitimizing the blockchain and crypto industries.

Key Points:

  • The metaverse's association with blockchain and crypto could lead to broader adoption.

  • Apple's entry into the VR headset market may attract more users to the crypto space.

  • A thriving metaverse could increase the demand for crypto assets.

Conclusion

While the crypto market remains highly speculative, these seven compelling reasons suggest that a bull market could be on the horizon, possibly as early as 2024.

Factors like the end of the bear market, regulatory developments, upcoming Bitcoin halving, institutional adoption, ongoing innovation, and metaverse development all contribute to a more positive outlook for the cryptocurrency market. It's crucial for investors to stay informed and consider these factors when making their decisions.



DISCLAIMER: I am not an attorney, accountant, or financial advisor, nor am I holding myself out to be, and the information contained on this Website is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.