🚀🚀 Bitcoin's bull run is still going strong, folks! 🚀🚀

The BTC market has been a rollercoaster ride of bear and bull cycles for the past decade. The BTC halving, where the reward for mining new blocks is halved, has traditionally been the trigger for the start of the bull market. 🐂📈

But this time around, things are a little different. The current bull run, which kicked off in mid-2023, was sparked by the hype around the potential approval of spot Bitcoin ETFs in the US. When these became a reality in early 2024, BTC smashed its 2021 record, hitting a new high of almost $74,000! 💥💥

This is the first time a new peak has been reached before a halving. The launch of these products by some of the world's biggest companies, including BlackRock and Fidelity, has legitimized BTC as an investment asset. 💼💰

Even though demand has leveled off recently, BTC's price has soared and is currently hovering between $60,000 and $70,000. Plus, with rumors that the US Federal Reserve will lower interest rates later this year, things are looking bullish for BTC and other cryptocurrencies. 🎉🎉

And let's not forget, the halving did happen a month ago. While some experts argue that the impact of each block reward halving is diminishing over time, the fact remains that the production of new BTC is falling, now at around 450 BTC per day. That's a lot less than the average accumulation rate by ETFs, whales, and retail investors. 🏦🐳🛍️

So, when will this bull run end? Ki Young Ju, CEO of CryptoQuant, believes BTC is currently in the middle of its ongoing bull cycle. He suggests that if the current trend continues, we could see the bull cycle end around April 2025. But for now, let's enjoy the ride! 🎢🎢

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