When will the bull market in the currency circle come? Is the currency circle now a bull market or a bear market?

As the price of Bitcoin exceeded $70,000, other cryptocurrencies in the currency circle also began to grow rapidly, making investors increasingly excited about the arrival of the bull market. The so-called bull market is a stage when the cryptocurrency market is on an upward trend, prices continue to rise, and investor sentiment is even higher. But there is currently no clear indication of when the bull market in the currency circle will come? However, some people believe that the current rising market price is a sign of the arrival of the bull market, and some people believe that it is still in a bear market. Is the currency market now a bull market or a bear market? According to the current market conditions, the bull market in the currency circle is likely to start in the second half of 2024. It is currently in the early stages of the bull market. The editor will explain it in detail below.

When will the bull market come in the currency circle?

According to past data analysis, the bull market in the currency circle will start around the first quarter of 2024, and the Bitcoin halving will be in early May 2024. According to experience, the bull market has a high probability of starting in May 2024. Referring to the previous bull and bear cycles in the currency circle, from 2013 to 2017 to 2021, the next bull market is likely to be in 2024 and 2025. Senior trader Peter Brandt hinted in a tweet that Bitcoin is likely to A new round of "crazy bull market" will begin in 2024.

The data given by Peter Brandt shows that Bitcoin’s next round of “mad bull” may have to wait until May 2024, which is almost the same as the next Bitcoin “halving” progress. In the past two halvings, Bitcoin has risen 10 times or more, and it takes the cryptocurrency an average of 33 months to start a bull market. He explained that if history repeats itself, the next bull market will start in May 2024.

Some market participants have become accustomed to Bitcoin’s price highs occurring every four years, paying particular attention to the second year after each Bitcoin “halving” is completed. In May 2020, Bitcoin completed its third halving since its birth. In 2021, Bitcoin has risen by 59.7%. In the short term, against the macro backdrop of the Federal Reserve starting to raise interest rates and accelerating its balance sheet reduction, the market generally believes that the prospects for risky assets such as Bitcoin are not optimistic.

Is the currency circle now a bull market or a bear market?

The currency circle is now in the middle of the bull market. The bull market refers to the stage when the digital currency market is on an upward trend and prices continue to rise. In a bull market, investors generally show optimism, market activity increases, trading volume increases, and the price of digital currencies will rise significantly.

Compared to the bull market, the bear market refers to the stage when the digital currency market is in a downward trend and prices continue to fall. In a bear market, investors generally show pessimism, market activity decreases, trading volume decreases, and the price of digital currencies continues to fall.

These two terms originate from the stock market. Bull market refers to the strength when prices rise, and bear market refers to weakness when prices fall. In the digital currency market, bull and bear markets are cyclical phenomena, and the market will periodically experience bull-bear transitions. Different market states will have a significant impact on investors' strategies and decisions, so it is very important to understand the bull and bear cycles of the market.

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