The crypto market is known for its massive price swings that leave traders feeling panicked and overwhelmed. Bitcoin, the leading cryptocurrency, has been on a rollercoaster journey ever since its inception, with the asset hitting a record peak of $69,000 in its previous bullish phase. From the end of 2021 onwards, several challenges have affected Bitcoin’s price, with the charts showing a decline.
However, this year, a resurgence in its price has made traders feel optimistic again about the potential of Bitcoin in the long run. Looking ahead, a new catalyst for a potential Bitcoin bull run has drawn everyone’s attention: the Bitcoin halving event set to take place in April 2024.
Breaking down the concept of Bitcoin halving
Bitcoin halving, or “the halving” as it is commonly known, is a pre-programmed event in the Bitcoin network that happens every four years. During this event, the amount of Bitcoin that miners get as rewards for adding new transactions on the blockchain is cut in half.
The last Bitcoin halving event happened in 2020, with the block reward being cut to 6.25 BTC.
Looking at Bitcoin’s past halving events, it’s noticeable that they always preceded a bull market – in November 2012, BTC didn’t have significant worth, as it was only valued at $12. However, one year later, its price exceeded the $1,000 mark. But this was just the beginning, as July 2016 preceded an epic bull run in the history of the crypto pioneer. At the end of 2017, the price of Bitcoin went up to $20,000, generating criticism and admiration alike. The same pattern happened four years later, and following the May 2020 halving, Bitcoin reached a new high of almost $70,000. If the pattern repeats, traders could expect Bitcoin’s price to reach new highs in 2025 due to the 2024 halving event.
What Does A Bull Run Mean, And How Long Can It Last?
A bull run is characterized by a spike in prices due to the increased demand that overtakes supply. During this time, traders are optimistic, believing that the prices will continue to rise, thus offering incredible opportunities to earn massive profits. As a result, they are willing to buy digital assets instead of selling them.
As for the duration of a bull run, it can be difficult to estimate with precision when a bull phase starts and when it ends. Market sentiment is one of the most critical factors that impact a bull run, and as long as it remains optimistic, the market will remain bullish for as long as possible.
The longest bull run lasted one year (from October 2020 to November 10, 2021). And Bitcoin’s price could have possibly rallied even further if it wasn’t for the Federal Reserve’s interest rate hikes. Since the factors impacting Bitcoin’s price constantly change, it can be challenging to tell what the next bull run will look like – however, the event still remains a considerable milestone in the crypto ecosystem that generates excitement among traders who are eagerly waiting for the moment to come.
Crypto Spring On The Horizon: How Can Traders Make The Most Out Of Their Trades In A Bullish Climate?
In order to benefit from the bull market, it is essential to buy early. Although it can be challenging to figure out when the bottom and peak will happen, losses will be reduced as much as possible, and they won’t be permanent either. There are several strategies that traders can use when the market is bullish, and one of the most basic ones is buying and holding onto a specific asset until you can sell it when it is convenient. If you’re looking for a more aggressive strategy, you can use full-swing trading instead and implement techniques like short-selling to maximize your gains as shifts happen within the larger bull market.
However, using these techniques- or any others- doesn’t necessarily guarantee that you will succeed in a bull market. After all, you can’t watch the coins all day long to catch them (you need to work and sleep). This is why you may want to look for the Finest crypto trading bot that can monitor market trends and handle your trades without ever needing a break. Using a trading bot allows you to sleep peacefully, knowing that you will never miss a beat.
Crypto bots provide significant value for traders – especially for beginners- allowing them to reduce the time to carry out multiple trades at the same time. Moreover, these programs will eliminate emotions from your trading game, allowing you to stick to a well-tailored strategy and avoid impulsive decisions. A trading bot also allows you to watch the crypto market closely 24/7 without actually having to check trades. As long as you set parameters and configurations, the bot will do the entire job for you. This makes crypto trading less time-consuming, allowing traders to also focus on their daily routine. Of course, choosing a trading bot isn’t the ultimate solution for everyone, as it requires you to be familiarized with the crypto space. Apart from that, it is essential to consider several aspects, such as security, connectivity, ease of use, and transparency. Obviously, profitability is also a vital consideration, as it is ultimately your goal.
Hence, make sure to choose a reliable trading bot such as Coinrule, which has noticeable advantages and enables you to streamline your trading activities. Using a crypto trading bot will ultimately give you more clarity as you navigate the market’s volatility, allowing you to make decisions that align with your financial goals.
The Bottom Line
Historically, Bitcoin has followed a pattern regarding the bull run, allowing traders to predict when the next event will occur, thus making more informed decisions. However, it isn’t recommended to rely only on Bitcoin’s history, as there is no guarantee it will bring a similar result.
Instead, you should do your research before making any trading decisions and analyze specific factors in the market. Remember to stay disciplined and make the most of available tools, such as crypto trading bots, so that you can manage risks properly and potentially make profitable gains.
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