Memecoin (meme) 
The crypto bull run in 2024 is making waves as one of the strongest in Bitcoin’s history. Let’s explore the evidence behind this claim.
Bitcoin (
BTC
) surged to $73,750 on Mar. 14 and has since been trading within the $68,000 to $72,000 range, sparking talks about the commencement of the crypto bull run.
The surge in Bitcoin’s price is linked to the upcoming
BTC halving
scheduled for Apr. 19-20. This event will halve the block reward for miners from 6.5 BTC to 3.25 BTC, historically affecting Bitcoin’s supply and price.
According to on-chain analyst James Check from Glassnode, the crypto market is transitioning from an “enthusiastic bull” phase to a potentially euphoric one. This shift began in October 2023 and gained momentum as BTC reached its all-time high earlier this year.
Check suggests that the current bull market ranks among the strongest in Bitcoin’s history, citing minimal corrections during the rally.
Moreover, the surge in crypto prices is not only impacting trading but also
job
markets within the industry. Despite previous bearish stagnation, the number of vacancies in the crypto industry hit an annual high in March.
Data from CryptoJobsList indicates a significant increase in job postings and applicants, reaching an annual record in March with 5,843 job applicants.
What is a Crypto Bull Run?
A crypto
bull run
refers to a sustained period of upward movement in the prices of crypto assets, particularly Bitcoin and other major digital assets.
During a bull run, investor confidence and buying activity rise, leading to higher prices, new all-time highs, and attracting attention from both retail and institutional investors.
Crypto Bull Run History
The first significant bull run occurred after Bitcoin’s first halving in 2012, reducing the block reward from 50 to 25 BTC. This event propelled Bitcoin’s price from double digits to over $1,000 in 2013, marking its entry into the financial spotlight.
The second bull run coincided with Bitcoin’s second halving in 2016, driving prices from around $430 to over $750 by early June 2016, eventually reaching new highs of over $19,000 by December 2017.
The third major bull run followed the 2020 halving event, with Bitcoin’s price surging to around $15,000 by November 2020 and peaking near $69,000 in November 2021.
Cues for the 2024 Crypto Bull Run
Several cues indicate the commencement of the crypto bull market in 2024 and its implications.
- Inflows into spot BTC ETFs
- Price stability
- BTC hash rate
- Fear and greed index
- Rise in crypto stock prices
These cues suggest a growing interest and confidence in BTC, reinforcing the narrative of a bull run.
Crypto Bull Run Predictions
Experts like Michaël van de Poppe and The ₿itcoin Therapist foresee positive signs for the crypto market, with potential for substantial growth in altcoins and a multi-decade bull run.
While these predictions are promising, it’s essential to approach them with caution, conduct thorough research, and seek advice from financial professionals before making investment decisions.
FAQs
How long does a crypto bull run last?
Crypto bull runs typically last for several months to a few years, influenced by factors like market sentiment, investor activity, and external events.
Why is the crypto bull run every four years?
The crypto bull run often aligns with Bitcoin halving events, occurring roughly every four years, reducing the rate of new Bitcoin creation and increasing demand.
What causes a crypto bull run?
Factors like positive market sentiment, regulatory clarity, institutional adoption, and macroeconomic conditions contribute to the onset of a crypto bull run, though they are typically followed by periods of correction or consolidation.
