The situation around the world’s most valuable digital asset caught thousands of investors by surprise. The release of Bitcoin Spot ETFs was supposed to result in some of the highest gains in years. However, the token’s value entered a downtrend after initial growth, dropping to below $40,000 after months of steady growth. However, the situation quickly turned around, and BTC is above the significant $40K psychological threshold once again.
The sudden turnaround resulted in a significant BTC selloff, preventing growth and sparking increased volatility. Bitcoin will likely enter a bullish market by late 2024, so let’s see the top three indicators that facilitate this prediction. We’ll also provide details of an emerging Bitcoin cloud-based mining platform, Bitcoin Minetrix, that will allow you to get the most out of Bitcoin’s bull market.
Indicators Clearly Show Bitcoin Will Go on a Bull Run
There are dozens of indicators pointing to a crypto market bull run in 2024, but we’ll cover the three with the most influence on digital asset prices. Here are the indicators showing that Bitcoin will enter a bullish market in the next few months.
Mainstream Acceptance of BTC ETFs
As you may already know, Bitcoin ETFs went live in early January 2024. BTC ETF trading took off immediately, reporting $4.5 billion in trade volume during the first 24 hours and over $11 billion during the first week. Bitcoin ETFs allow traditional investors to buy and sell BTC, a massive step towards mainstream cryptocurrency acceptance.
Bitcoin ETFs are a regulated trading option for all types of investors, but the most important thing is that they increase Bitcoin exposure and will eventually result in broader adoption. ETFs have amassed significant holdings in the first few weeks of going live, and the interest of investors is slowly growing. ETF trading greatly impacted assets such as gold and other commodities, resulting in significant price gains over time.
For example, gold ETFs became available in 2003, resulting in a 10-year bull market. During this time, the value of gold increased by 350%, bringing billions of dollars to the market every year. The introduction of Bitcoin ETF will likely have a similar impact and long-lasting positive effects on crypto markets.
Bitcoin Halving Event
Bitcoin halving events have always had a massive impact on crypto prices and market dynamics. The event occurs once every four years, decreasing rewards for mining BTC tokens by half. That increases BTC scarcity, followed by significant gains for most cryptos on the market, especially BTC.
The next halving event should take place in April 2024, and if history repeats itself, it could spark a major crypto bull run in 2024 and 2025. All past halving events were followed by significant price gains. For example, BTC tokens surged significantly after the halving event in 2016 and 2020. The 2020 halving event was what sparked BTC’s all-time high, and the next one could play out in a very similar manner.
Macroeconomic factors also have a direct impact on cryptocurrency prices. Rising geopolitical tensions, increased inflation, rate hikes, and other factors have historically defined crypto prices in the past. For example, new conflicts worldwide could lead to energy disruptions, supply chain issues, and other problems, hindering global economic growth and impacting investor sentiment towards digital assets.
Rising tension in the Middle East could result in a war, reducing oil production, surging prices, and potentially a new wave of inflation. In such a scenario, the risk of investing in cryptocurrency would increase drastically. These are just some reasons why over 80% of jurisdictions worldwide were pushing towards tighter crypto market regulations in 2023. As the EU and the US introduced new regulations, investors felt more confident as markets stabilized, both crucial factors that could have a positive outcome on BTC prices in 2024.
Bitcoin Minetrix – An Investment You Don’t Want to Miss Out on Before the Next Bitcoin Bull Run
As the world prepares for the next Bitcoin bull run, a new crypto platform called Bitcoin Minetrix enters the stage. It’s a platform with a unique reward system, and its goal is to make mining Bitcoin available to a broader user base. It’s primarily a Stake-to-Mine cloud-based BTC mining platform that allows users to mine BTC without the massive hardware and electricity costs. Moreover, it’s very straightforward to use, so even a complete beginner can start mining Bitcoin without any technical knowledge or experience.
How Does It Work?
Investors must purchase native BTC MTX tokens required to earn non-fungible mining credits. The tokens are staked, and token holders are rewarded with mining credits instead of higher returns. The more tokens you stake, the more time you can mine BTC remotely.
You will get access to a smartphone app allowing you to manage BTC mining and withdraw your rewards at any time with just a few simple taps. The system is the simplest Bitcoin mining option made so far, which is exactly what separates Bitcoin Minetrix from similar cloud-based mining platforms.
Bitcoin Minetrix Presale Event
Bitcoin Minetrix entered presale in late 2023, quickly becoming one of the most sought-after presale events in the industry. It raised over $9.5 million in a couple of months and shows no signs of stopping. The hard cap is set to just over $32 million, and if the current rate continues, Bitcoin Minetrix will reach its final goal in the next few months. So, visit the official site and don’t miss your chance to invest early to get the most out of the next Bitcoin bull run.
The next Bitcoin bull run is about to go down in the next few months, so you still have time to prepare to get the most out of it. All key indicators are pointing to new all-time highs for the token, and BTC has already surpassed $40,000 days after dropping below the significant psychological barrier of $40K. If you want to get the most out of the next bull run, consider investing in Bitcoin Minetrix, as it will give you another option for earning BTC during a time when it’s likely to become the most valuable digital asset in history.
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Serena James has worked as a writer for different media houses in the past. Currently, she is working as a fundamental writer for thecoinrepublic, covering decentralized finance. When she isn’t writing, she can be found skimming and scanning Twitter and other websites to produce mind blowing breaking stories.