A look back at the dynamics of past bull runs
There have been many bull runs in the history of cryptocurrencies, each with different catalysts and market dynamics.
2011–2013 — Geopolitics
The uncertainty, political crisis, and financial crisis of 2011-2013 made Bitcoin a safe haven. Although it was not the first time this had happened, the bull run proved the possibility of using Bitcoin as a hedge trading tool.
2015–2017 — BTC Goes Mainstream
After a turbulent few years between 2015 and 2017, Bitcoin’s price rose as mainstream media coverage and people’s usage increased. Notably, the price of Bitcoin rose from $200 to $670, marking a revolutionary step for Bitcoin in its quest for social acceptance.
2020–2021 — Digitization
Cryptocurrencies have seen unprecedented growth during the COVID-19 pandemic; demand for virtual transactions as well as DeFi payment systems has surged.
2024 — Now
In early 2024, Bitcoin surged, breaking through the $60,000 level. The latter was due to the anticipation of the upcoming fork event and the SEC’s approval of a Bitcoin ETF for listing on the US market. It is at this point that finance and digital currencies meet, as a new initiative provides a regulated channel for institutional investors who want to invest in Bitcoin
Overall, both regulatory approval and excitement about the future halving period have provided ample fuel for the craze.
