This bull market is different from previous bull markets, but it may be the largest bull market in history. I summarized it as seven major factors driving the bull market craze.
1. New tracks such as Inscription appear and begin to be widely accepted. The bull market will definitely bring about the creation of assets worth hundreds of billions of dollars and a large number of incremental users. I think the Bitcoin ecosystem exceeds $100 billion.
2. After the adoption of the ETF, hundreds of billions of dollars of compliant funds flowed into Bitcoin, driving the rise of Bitcoin. The overflow value allowed the new concept coins recognized by the public to experience greater increases.
3. The actual impact of Bitcoin halving on the market is not great, but for many people who do not understand the entire industry, it is a psychological hint that a bull market is coming, further forming a group consensus.
4. The U.S. dollar brought about by the Federal Reserve’s interest rate cut has returned to popular asset sectors.
5. The improvement of web3 mobile infrastructure has lowered the threshold for users to enter the industry. Just like it took 16 years to popularize 100 million mobile phones, but it only took two months for CHATGPT. It can be seen that the efficiency of this bull market cycle will be the same as the previous ones. It’s different every time.
6. The new generation of young people has become the native group of the Inscription era. They came into contact with Inscription when they were in college, right after graduating from college, and made money on Inscription. Inscription is the Bitcoin of their generation, and they give this game Tao brings infinite vitality again!
7. Exchange card stations such as Binance and Ok provide more traffic and liquidity to the industry!
Inscription History
At the end of December 2022, Casey Rodarmor appeared in the public eye with the concepts of Bitcoin Ordinals and Inscriptions, introducing NFT to the Bitcoin network. An inscription is a digital imprint created on Bitcoin using new technology. If Bitcoin is compared to digital gold, then inscriptions are gold jewelry, and they share the same essence. Bitcoin Inscription is a piece of metadata inscribed on Satoshis using Ordinals (ordinal numbers), and can also be called "Bitcoin NFT". The smallest unit of Bitcoin is Satoshi (sats), 1 BTC = 100 million Satoshi. Each Satoshi is sorted through ordinal theory, has different characteristics, and has a unique number. These coins containing different rare characteristics are called inscriptions. Let's take a look at the form. I hope it can help you.
