5 data points suggest a crypto bull market began in 2023 — What’s next for 2024
Data suggests that a crypto bull market started in 2023 and is set to continue throughout 2024.
Increasing optimism for the approval of a spot Bitcoin ETF, the upcoming BTC halving and positive market sentiment suggest that a crypto bull market started in 2023.
While 2023 started with little hope of a revival in the crypto market, the events of the year have surprised most market participants with a surge in the price of Bitcoin
BTC
tickers down
$42,001
, Ethereum
ETH
tickers down
$2,303
, Solana
SOL
tickers down
$104
and many other altcoins.
The period of high volatility in the crypto market appears to be gathering
momentum with a bull run expected in 2024.
The global crypto market cap is $1.69 trillion, up 112% over the last 12 months. The increase has been accompanied by 154% and 93% leaps in the prices of Bitcoin and Ether respectively.
The increase has been particularly striking in some altcoins such as Solana and Avalanche
AVAX

$39.64
which have increased by 880% and 250% respectively over the same period.
The primary factors promoting the spike in crypto prices are rising hopes of a spot Bitcoin exchange-traded fund (ETF) being approved, the successful Shanghai upgrade for the Etheruem network,
