Bull Run 2024??
The crypto market is showing signs of a potential bull run, especially with recent Bitcoin (BTC) gains and favorable market conditions, but many experts see it as a prelude rather than a full bull run confirmation. Bitcoin's current rally is partially driven by expectations around potential ETF approvals, institutional interest, and the U.S. Federal Reserve's recent rate cuts, which have made risk-on assets like Bitcoin more appealing.
One major indicator that this rally may transition into a full bull market is Bitcoin’s potential breakthrough past the $70,000 mark. Analysts suggest that if Bitcoin surpasses this resistance and sustains momentum, it could enter a parabolic phase that might see it approach new all-time highs by early 2025, as was seen in past cycles. Additionally, Ethereum and other major altcoins are likely to contribute to a market-wide rally, boosted by innovations like Ethereum 2.0 and maturing Layer-2 ecosystems.
While these are strong indicators, other factors like the broader economic climate and regulatory developments, especially around ETFs and crypto-friendly policies, will play crucial roles. Experts suggest cautious optimism, viewing this as a build-up phase that could lead into a more intense bull market in the coming months.
As of writing this now, BTC just touched the 71k mark, breaking the 70,000 resistance! What is your opinion on this???!!!