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Bitcoin pioneer Nic Carter posed a critical question for the crypto world from his personal X (formerly known as Twitter) account. Carter asked, “Why are you expecting a bull run?” emphasizing the widespread expectation of a major bull market that nearly all market participants seem to anticipate.
Carter’s Question Mostly Received Positive Responses
Carter, from his personal X account, made a striking statement with a tweet to his followers, saying “Almost everyone is talking about entering a bull run similar to 2017/18 or 2021/22. I shouldn’t be the one to ask this, but do you have any basis for this, or have you confirmed it by training a model based on 2 data points?”
The Bitcoin pioneer’s tweet was mostly met with positive responses. Among the replies to the tweet, the headliner was the anticipated Bitcoin block reward halving in April 2024, which is expected to trigger a bull market due to the reduction in BTC issuance.
Bitcoin educator Dan Held responded to Carter, saying, “People will continue to speculate/gamble. That’s my assumption.” Investment analyst Lyn Alden replied to the question by saying she expects the market to continue to be associated with various global liquidity measures, adding “I don’t have a definitive view about 2024, but I would be surprised if liquidity at the end of the combined 2024/2025 period isn’t higher than it is now.”
CoinRoutes CEO Dave Weisberger pointed out that the Bitcoin network is twice as strong now as it was at the previous peak price, highlighting that the presence of Bitcoin ETFs would open the door of the largest cryptocurrency to anyone with a brokerage account.
The Cryptocurrency World Is Gearing Up for a Bull Market
Trader Bob Loukas replied to Carter with a tweet, commenting on current indicators and suggesting that a major bull run is expected in the crypto world. Loukas noted that interest rates in the US have peaked, ETF approval is on the horizon, and the first quarter of Bitcoin’s four-year cycle has just been completed, adding the note “The adoption of the asset class is accelerating.”
Among the issuers who have applied to the US Securities and Exchange Commission (SEC) to offer a spot Bitcoin ETF, asset management firm Bitwise recently published their predictions for the cryptocurrency in 2024. According to Bitwise, Bitcoin will reach $80,000 in 2024.
