Possible bull market scenario in 2025:
Q1 2025: The market may still remain volatile, but if the halving effect starts to manifest itself, BTC and major altcoins will begin a gradual rise.
Mid-2025: The beginning of a more active growth is possible, especially if macroeconomic conditions favor risk assets.
Late 2025 - early 2026: If the cycle repeats, this is the period when a new bull market peak may occur, as was the case in 2017 and 2021.
My subjective opinion:
I believe that 2025 will be a favorable year for cryptocurrencies, and the bull market will most likely begin in the second half of the year. But it is worth considering the risks, in particular, possible regulatory restrictions or unfavorable macroeconomic conditions.