WHY IS IT BELIEVED THAT IN 2024 THERE WILL BE A BULL RUN WITH CRYPTOCURRENCIES?
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Since their appearance, cryptocurrencies have continued to rise in popularity. Many people have invested in them in the hope of long-term profits. Although there are many theories about the future of these crypto-assets, one of the most accepted is the hope that the crypto sector will enjoy a bull run in 2024.
What is a "bull run"? It is a term used to describe a period of time in which the prices of financial assets rise significantly, a "crypto bull run" refers to a period in which the prices of cryptocurrencies increase dramatically, especially the price of cryptocurrencies. bitcoin dollar.
So why is it believed that in 2024 there will be a "bull run"? There are many reasons.
Mass Adoption
More and more people are adopting cryptocurrencies. Large companies, such as Tesla and PayPal, are starting to accept Bitcoin and other cryptocurrencies as a form of payment. Additionally, many countries are considering creating their own government-backed cryptocurrencies. As more people and businesses adopt cryptocurrencies, cryptocurrency prices are likely to increase.
The reduction in the supply of Bitcoin is another encouraging reason that increases the desire for mass adoption. In 2020, there was a halving in the amount of Bitcoin that can be mined and that caused the price of Bitcoin to rise radically. In 2024 it will be even more difficult to mine new coins. As a result, demand for Bitcoin is likely to increase substantially, which could lead to a considerable increase in Bitcoin price and holdings.
