The crypto markets experienced a highly dynamic period during 2020-2021. The surge that gained momentum in 2021 is still memorable. The Bitcoin price has gone through a lot since its peak in 2021, as if every minute of the nearly 3 years that have passed felt like several days. The structure of the exhausting bear market is such, but the bull seasons are equally dreamlike.
Crypto Predictions for 2024
We have seen countless analyses for this year, and we have shared many of them here. We have considered different opinions for altcoins, and specifically for BTC and ETH. Some experts are comparing the year 2024 to the beginning of 2021. Antoni Trenchev, one of the founders of the cryptocurrency lending company Nexo, says the ongoing price movement is the last major bull period before crypto goes mainstream, also highlighting its resemblance to the 2020-2021 period.
“In that period, the market’s rise proved to be much more than just seasonally rising prices. This rally, which came just months before Bitcoin’s halving in April 2020 and rode the wave of excitement around crypto ETFs (exchange-traded funds), was a harbinger of unprecedented fluctuations in crypto valuations. An early ‘Santa Claus Rally’ is already shining on the charts, and with the Bitcoin halving planned for April 2024, we are optimistically preparing for another surge, and the bulls are just warming up.”
This Crypto Bull Run Is Different
Even though the charts remind us of previous cycles, the underlying conditions are not the same. Especially now that we are so close to ETF approval, we must definitely accept that we are in the midst of something very different from previous cycles. Jupiter Zheng, a partner at HashKey Capital, said the following;
“Currently, we are in an environment where we see the rapid expansion of the Bitcoin ecosystem, which includes the introduction of new layer-2 solutions and inscriptions, alongside the spot BTC exchange-traded funds (ETFs) and the upcoming halving event in 2024. Additionally, the Federal Reserve’s shift from hawkish to dovish has also had a positive impact on risky assets.”
This year we will go through a period filled with unusually good news. As experts say, the dream may have just begun.
