When we look at the recent rises in the crypto market, everyone thinks that the bull season has begun. My answer to this question is yes. Ether, which hit $900 during the bear season, is over 3x today. Likewise, $BTC exhibited a similar position. We can say that altcoins have made good gains, even if they are a little behind.
What will happen next. In fact, we need to look at the past in order to accurately answer the question of what will happen next.
The interest rate pressure created by inflation in the US markets has caused a major decline in the crypto market, as in all markets. This bear season has caused a huge decline in cryptocurrencies. When the Fed increased interest rates to the 5.5 - 6.5 band and now reached the upper limit for interest rate increases, and the understanding that there would be no further interest rate increases, cryptos moved upwards. During this period, bitcoin started to move from 16-17K dollars to 30K levels. This rise was further accelerated with the approval of BTC's ETF.
Today, we expect the Fed to start the interest rate reduction period. The FED, which will most likely leave the interest rate constant in March, will reduce the interest rate in April or May. This interest rate cut will start the movement towards the peak of the bull season, which has already started in the crypto market.
Considering the inflation rates in the USA in the last 2 years, the 70K of the previous bull season is the 120K of 2024. So 120K for BTC means 60K 2 years ago. Likewise, for Ether, this rate is over 7K. When we examine the prices in the market in this way, we can say that we have come half way compared to the previous bull season.
The bull season has begun in the crypto market. There may be corrections of 5% - 10%, but the upward trend will continue. I think the target prices I wrote above for BTC and Ether are extremely easy targets. I especially think that Ether will perform much more than expected and will surprise everyone.
The above is not an investment advice. If you want to get more information about the crypto market, stay tuned. I have some concerns about altcoins. I will express my concerns to you in my next article.
Stay Tuned!!
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