The cryptocurrency market is known for its ebbs and flows, and enthusiasts are always on the lookout for the next bull run. In this article, we talk about what the “bull run” is and how you can prepare for it to make life-changing gains in the crypto space.
The Bull Run
A “bull run” is when prices keep going up and people feel good about the market. This happens with cryptocurrencies, especially Bitcoin leading the way. During a bull run, prices go higher and higher, which makes investors happy because they see their investments making more money and reaching new records.
Characteristics of the Bull Run
1. Bitcoin price surge
During a bull run, the first big thing you’ll notice is the price of Bitcoin shooting up. It keeps going higher and higher, staying up for a while.
2. Optimism
During a bull run, investors feel good about the market and think prices will keep going up. Everyone in the crypto community gets excited and hopeful. When people feel positive, they buy more, which pushes prices even higher.
3. Increased trading volume
There’s a higher level of buying and selling activity in the market hence there’s an increase in the trading volume recorded across various trading platforms and exchanges.
4. Media attention
The bull runs attract widespread coverage in the media, drawing more people into the market. As the price of Bitcoin and other cryptocurrencies surges, the media spreads the news.
5. New investor influx
More people, including newcomers, start investing in cryptocurrencies. The media attention on cryptocurrency during bull runs makes newbies aware of the crypto market, and they begin to come in in their numbers.
6. Altcoin rally
The party jollof is not left for BTC alone, but many other cryptocurrencies (altcoins) also see substantial price increases. Altcoins hit up to 100x, 1000x, and even more in profit.
7. FOMO (Fear of missing out)
Investors, both new and old, who haven’t invested in cryptocurrency worry about missing out on potential profits, driving more buys. Most times, they end up as exit liquidity.
8. New ATH(All-time Highs)
The Parting Shot
The bull run happens because more people start using cryptocurrencies, rules about them get better, big investors get interested, and more regular people want to join in. But remember, cryptocurrency prices can change a lot, and after a bull run, prices might drop a lot too.