Brief explanation on how BULLRUN works and what will become of it
Firstly🫵🏽..
Bull run in crypto refers to a significant and sustained price increase in cryptocurrencies, particularly Bitcoin, over a prolonged period. It's a market trend where investor sentiment is overwhelmingly positive, leading to a surge in demand and prices.
Characteristics of a crypto bull run:
1. Rapid price appreciation: Prices rise rapidly, often exceeding 100% or more in a short time frame.
2. Increased adoption: More people become interested in cryptocurrencies, driving up demand and prices.
3. Media attention: Mainstream media coverage increases, drawing in new investors and fueling the rally.
4. Market enthusiasm: Investor sentiment is highly optimistic, with many expecting prices to continue rising.
5. Increased trading volume: Trading activity surges, with high volumes of cryptocurrencies being bought and sold.
6. New market highs: Prices reach new all-time highs, attracting even more investors and fueling further growth.
Some notable crypto bull runs include:
1. 2017: Bitcoin rose from around $1,000 to nearly $20,000.
2. 2020-2021: Bitcoin surged from around $10,000 to an all-time high of over $69,000.
Keep in mind that bull runs are often followed by corrections or bear markets, where prices decline. It's essential to be cautious and do your own research before investing in cryptocurrencies.
