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by Esin Syonmez
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Bitcoin is closing out 2024 with a bang, breaking through the $100,000 barrier. While this milestone is grabbing headlines, it feels like the inevitable result of a year packed with transformative events that reshaped the market. With the global market cap surpassing $1.94 trillion, 2024 has been nothing short of extraordinary.
This hasn’t been a year of small wins. From the long-awaited approval of Bitcoin and Ethereum ETFs to record-breaking institutional adoption and the ripple effects of the U.S. elections, 2024 has laid the groundwork for what could be the most explosive crypto bull run in history.
After a really long time of anticipation, the bull run is finally here, but it might feel “too good to be true” to fully accept it. So instead of asking, “When will it start?” anymore, let’s tackle the real questions: “What should we expect from the market next?” and “How can I make the most of this opportunity?”
A crypto bull run is when the prices of cryptocurrencies rise significantly and continue to climb for an extended period. It’s a time of excitement for investors because it often leads to large profits. However, it’s important to remember that while bull runs can be highly rewarding, they also come with risks like increased volatility and potential sharp price drops.
During a bull run, there’s a surge in buying interest as demand for cryptocurrencies far exceeds supply, causing prices to spike. This period is fueled by positive news, growing investor optimism, and strong market sentiment. As prices rise, more people jump into the market, creating a self-reinforcing cycle where rising prices attract more buyers, which drives prices up even further.
2024 has been a defining year for the crypto industry, marked by regulatory breakthroughs, institutional adoption, and technological advancements. While Bitcoin has grabbed headlines, the broader market has also evolved in remarkable ways, solidifying its place as a maturing financial ecosystem.
Despite ongoing challenges such as market volatility and lingering global economic pressures, 2024 has clearly demonstrated the crypto market’s resilience and potential to grow beyond speculation. As these foundational changes take hold, the market appears well-positioned for a sustained bull run into 2025.
The 2024 crypto bull run is no longer a question of “when” but a reality unfolding before our eyes. Bitcoin’s $100,000 milestone in December 2024 and the broader market momentum confirm that we are firmly in the beginning of a bull run.
Key Milestones Along the Way:
Now, with Bitcoin breaking through $100,000 and altcoins showing strong momentum, the bull run is in full swing. Analysts expect this trend to continue, supported by favorable macroeconomic conditions and growing institutional demand.
The duration of the 2024 bull run will depend heavily on macroeconomic factors and investor psychology. As John Templeton wisely noted,
“Bull markets are born on pessimism, grown on skepticism, mature on optimism, and die on euphoria.”
Investors often experience a sense of euphoria during a bull run, as they witness their investments skyrocket in value. As prices rise, investors feel wealthier, which can lead them to reinvest gains, further fueling the market and prolonging the bull run. This can lead to a self-perpetuating cycle (aka the Wealth Effect), where more investors jump on the bandwagon, further driving up prices.
Historically saying, bull markets like this often last 12 to 18 months. While it’s difficult to pinpoint an exact timeline, this bull run’s foundation appears solid. If driven by institutional confidence and broader adoption, it may extend into 2026 before entering a consolidation phase. Key inflection points to watch will include Bitcoin’s performance relative to key psychological levels (e.g., $120,000 or $150,000), Ethereum’s network upgrades, and the evolution of altcoin markets.
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Breaking records is exciting, but let’s not lose our heads just yet. Bitcoin hitting $100K might feel monumental, but what if it’s just a pit stop on an even bigger journey? The key now isn’t to chase the hype, it’s to stay sharp, know what’s coming, and time your moves smartly.
As this bull run takes off, let’s dive into what the experts are predicting about Bitcoin’s potential and how far it might go.
Ian Balina, founder of Token Metrics, predicts that Bitcoin could reach $150,000, representing a 4.5x return from current levels, driven by institutional adoption and technological advancements.
Cathie Wood, CEO of ARK Invest, is highly bullish, predicting that Bitcoin could soar to $500,000 by the end of this decade due to growing institutional adoption and Bitcoin’s potential role as a hedge against inflation. She sees $100,000 as a plausible target during this bull run, especially as major institutions increase their exposure to crypto.
Standard Chartered recently revised their forecast, suggesting Bitcoin could rise to $120,000 by the end of 2024, citing its diminishing supply due to halving and increasing institutional interest as key drivers.
Mark Yusko, CEO of Morgan Creek Capital, also predicts Bitcoin could surpass $100,000 during the 2024 bull run, largely fueled by the continued integration of Bitcoin into the traditional financial system via ETFs and the halving’s supply shock.
While the long-term outlook remains bullish, investors should prepare for short-term consolidation phases as the market digests recent gains. Monitoring technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) can help identify potential entry and exit points during these phases.
The global crypto market cap is expected to see significant growth during the 2024 bull run:
Based on historical bull market cycles and current market dynamics, it appears we are still in the Optimism Phase of the 2024 bull run, but we’re getting closer to entering the Euphoria Phase.
Although we’re still in the Optimism Phase, the market is rapidly approaching the Euphoria Phase. In the coming months, we could see the Euphoria Phase take shape, marked by rampant speculative buying, higher retail investment, and increasingly unrealistic price projections.
For now, optimism and cautious participation define the market, but with the momentum building, a transition into Euphoria seems imminent. As more retail investors and speculative money flood in, expect the market to show increased volatility, making it essential to stay informed and manage risk effectively.
Here are a few strategies to help you make the most of the 2024 bull run:
Enter the Market Early: While the early stages of the bull run may have passed, market pullbacks or corrections can offer strategic entry points. Consider entering the market during temporary dips, as they often provide opportunities for better price entry. Monitoring key support levels and Bitcoin’s price movements can help guide your decision.
Diversify into Altcoins: As the market matures, look for high-potential altcoins such as Ethereum, Polygon, and Cardano. These projects are making significant technological upgrades that could drive price appreciation in the second half of the bull run.
Monitor Macroeconomic Events: Keep an eye on U.S. interest rate cuts and the presidential election for signs of how the market might evolve in late 2024 and 2025.
Manage Risk: Never invest more than you can afford to lose. The crypto market can be highly volatile, and while bull runs present opportunities, they also come with risks.
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To understand what might unfold in 2024, it’s essential to look back at previous crypto bull runs, particularly those triggered by Bitcoin’s halving events, which have historically sparked significant market rallies.
2012 Halving Bull Run: The first major bull run after the 2012 halving saw Bitcoin’s price increase by 90x. At the time, Bitcoin was still relatively unknown, and this halving introduced the world to the incredible price potential of crypto assets. The market was driven largely by early adopters and tech-savvy enthusiasts, with very little institutional participation.
These past cycles have shown that Bitcoin typically leads the market into a bull run, followed by altcoins as the rally gains momentum. Retail investors often pile in after Bitcoin has already started its ascent, and institutional investors follow, creating a cycle of increasing demand and price gains. Each cycle has also demonstrated diminishing returns, where the percentage gains decrease with each halving, but the growth remains substantial.
The 2024 crypto bull run has officially arrived, and it’s bigger than we imagined. Bitcoin has just surpassed $100,000, and with the global market cap reaching an impressive $1.94 trillion, the momentum is undeniable. This is more than just a market rally—it’s a transformative moment for digital assets, and we’re just getting started.
From the approval of Bitcoin and Ethereum ETFs to massive institutional adoption, 2024 is setting the stage for what could be the most explosive crypto bull run in history. The opportunity is here, and the market is primed for explosive growth. If you’ve been waiting for the right moment to jump in, this is it.
A bull run refers to a sustained period of rising prices in the cryptocurrency market. It is characterized by increased investor interest and market optimism.
A bull run can be triggered by various factors, including positive market sentiment, increased adoption and awareness of cryptocurrencies, technological innovations, and favorable regulatory developments.
Market volatility and investor risks are common during a bull run. Prices can rise rapidly but can also experience significant corrections. Regulatory challenges and changes can also impact the market dynamics.
To navigate a potential bull run, consider diversifying your portfolio, conducting thorough research, and focusing on the long-term potential of cryptocurrencies. Managing risk, setting clear objectives, and staying informed are also essential.
Remember, investing in cryptocurrencies carries risks, and it’s crucial to approach any bull run with a well-informed and cautious approach.
Disclaimer: All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. This post does not constitute investment advice.
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