Three months have passed in the first half of 2024. For the first half of the bull market, except for spot players, many people missed the opportunity. Therefore, many people reacted and were eager to buy after a big drop. Recently, Qun Jiawei: 417072555, but the trend is not always as you wish. It has been consolidating and cannot give me the most ideal position, which makes people anxious.
According to the timing of previous bull markets, the bull market is driven by the halving market. The Bitcoin halving time is April, which may mean that the bull market will start in the first half of 2024. As for the big bull market, it is very likely to occur in 2024. In the second half of the year, why do you say that?
History will not repeat itself, but it always repeats itself. What is certain now is that the next halving will be in early May 2024. According to experience, the market will most likely start a bull market 3-6 months before the halving. In other words, it will be launched around the first quarter of 2024.
Since traditional funds have a high degree of participation in the cryptocurrency circle, the cryptocurrency circle will be greatly affected by the traditional external financial environment. For example, the economy needs to find its bottom in 2024, and it will not enter the interest rate cut cycle until the second half of 2024, and the economy will not begin to fully recover.
Spot ETFs give the entire market a shot in the arm. In addition, web3, the metaverse, and the digital economy are developing in full swing, which will undoubtedly become the driving force for global economic development in the next few decades. Although these do not represent virtual currencies, they are closely related, which is also a long-term positive for it.
How long does a bull market in the cryptocurrency world usually last?
Different environments mean different times. According to historical records and market analysis, the bull market in the market generally lasts from 6 months to 2 years. For example, from the end of 2016 to the beginning of 2017, the price of Bitcoin rose from less than 1,000 US dollars to nearly 20,000 US dollars, and the bull market lasted for more than a year. In early 2019, the price of Bitcoin gradually rose from 3,000 US dollars to a high of 14,000 US dollars in June, and the bull market lasted for nearly 6 months.
It should be noted that the rise and fall of digital currency prices is very unstable. The greater the price rises, the more likely it is to adjust, and the greater the adjustment. Therefore, the duration of the bull market in the cryptocurrency circle cannot continue to rise, and there will definitely be ups and downs.
The bull market in the cryptocurrency market requires unexpected favorable factors, which are mainly reflected in abundant capital inflows, unexpected interest rate cuts, loose regulatory approvals, and major innovations in the industry. These will all be factors that contribute to the super bull market. But on the other hand, unfavorable market factors, such as black swan events, are often unpredictable, just like no one could have predicted the global COVID-19 pandemic in 2020. In short, the cryptocurrency market is highly volatile, with risks and opportunities coexisting, and we need to be fully prepared and planned.
Finally, let me summarize. I hope that my article can give you some warnings if you are lucky enough to read it. Try to avoid pitfalls, detours, and trial and error costs in the cryptocurrency circle. Follow me and visit my homepage. Welcome to communicate with me.