Will We Have a 2024 Crypto Bull Run?

Since the start of 2023 the Cryptocurrency market has seen a Meaningful recovery after a brutal bare Market with the total market Capitalization of all cryptocurrencies Increasing from 798 billion to 1.0 Trillion which is a 34% increase much of This growth can be attributed to bitcoin Which recovered from its yearly lows of $15,856 in November of 2022 to reach Over $27,600 overall Bitcoin is now up a Substantial 74% since its lows last year And Bitcoin dominance has increased from 39.4% to 50.3% over the same period Given that the performance of the Broader crypto Market is genuinely Contingent on how Bitcoin performs there Is a good reason to pay attention to the OG cryptocurrency that started it all Having recovered significantly this year And with multiple Catalyst in the Pipeline there are more than a few Reasons to suspect that the next Bull Run is just just around the corner so Let's talk about the Bitcoin haling Event so according to the CMC Bitcoin Haling calculator Bitcoin is expected to Undergo its fourth Halloween event Seeing its inflation cut from 50% as the Minor block reward is slashed from 6.25 Bitcoin to 3.125 bitcoin following the Fourth Hallen bitcoin's inflation rate Will fall from around 1.74% today to

Around 1.1% to put this into perspective Even Fiat currencies with the lowest Monetary inflation easily dwarf these Figures historically Bitcoin has Demonstrated a roughly 4-year cycle Centered around the hallowen date Broadly this has included a period of Decline in a bare Market followed by Consolidation and accumulation prior to The Halloween event with a new all-time High achieved roughly a year post Hallen Now let's take a look at the history of The Hallen so we're going to take a look Back in time so though past performance Isn't always an indication of future Success bitcoin price is moving similar To how it did prior to the rally that Culminated ated in Bitcoin reaching Almost $69,000 a coin according to recent Research by dely digital Bitcoin is Currently partway through the Accumulation phase of the market cycle And could be on track to achieve a new Price High by Q4 of 2024 this is further Corroborated by plan B's controversial Stock to flow or s2f model which Quantifies scarcity by comparing Existing Supply to new production Forecasting price increases as halin Reduce new coin issuance the model Suggests that a new price High could be Reached as early as Q2 of 2024 now let's Take a look at Bitcoin fundamental

Indicators so given the transparent Nature of Bitcoin networks it is Possible to collect and analyze onchain Data and extrapolate meaningful insights Enabling even non-technical users to Easily identify Trends and effectively Gauge Market sentiment as always these Indicators are subject and in many cases They are an indicator of the historical Performance of the market so to gain a Clearer picture it's important to look At multiple data points taking into Account both onchain metrics and broader Market dynamics with that said several Measures now point to an optimistic Future for Bitcoin so taking a look at Bitcoin's annualized 30-day volatility Has gradually compressed falling to a Historic low of 15.63% in August Bitcoin's price volatility tends to Compress during a bare market and expand During Market recovery it is generally Believed that consolidation leads to Near equilibri between buyers and Sellers as long-term holders grow their Positions while sellers reduce Volatility flattens so bitcoin's 30-day Volatility has rarely Fallen below its Current figure other technical Indicators also suggest a significant Upswing is on the way so this includes Bitcoin's realized market capitalization So this is the sum value of each coin at The price when it was last moved or

Transacted this metric provides a more Nuanced view of bitcoin's market Capitalization by focusing on active Coins deemphasizing lost or dormant Coins historically bitcoin's realized Cap has only been higher than its market Capitalization during the lowest troughs Of a bare market so following which the Market cap expanded dramatically every Time the last time this occurred was in January of 2023 indicating the worst of The bare Market could be behind us there Are also signs that miners are beginning To consolidate indicating that miners Are becoming more and more likely to Hold onto their coins rather than sell Them at current market prices so as per Data from macro micro it currently costs An average of $3 32,896 to mine a single Bitcoin compared To the market price of $27,600 in past Cycles bitcoin's average Mining cost has only exceeded the market Price during the bare market and Accumulation phase of the 4-year cycle Once the balloon line drops below the Orange Line this will be a strong signal That Bitcoin is once again in a bullish Trend now let's talk about regulatory Events so several long anticipated Regulatory events are potentially set to Take place in 2024 which depending on The result could be a major Catalyst for A 2024 Bull Run in June of 2023 the

Largest asset manager in the world Black Rock filed for a Bitcoin spot ETF with The US Securities and Exchange Commission with an overall 9 9.8% Approval rate for its previous ETF Applications hopes are high that black Rock and other firms will finally be Able to offer Bitcoin spot ETFs in the US the announcement sent the price of Bitcoin soaring to its highest value Since May of 2022 and promoted a wave of Similar ETF filings in the US Beyond This the EU is set to get one of the Most comprehensive regulatory Frameworks For issuing intermediating and dealing In digital assets coming into effect Between mid 2024 and early 20 2025 Micah Governs crypto asset issuers and service Providers aiming to protect consumers Maintain Financial stability and also Foster Innovation mic distinguishes Between cryptocurrencies tokens asset Reference tokens and electronic money Tokens it mandates transparency from Issuers registration for crypto asset Service providers and adherence to Anti-money laundering measures so in 2024 cryptocurrency taxation rules will Undergo significant Chang es in the US This may actually prove bullish for the Market for one non-recognition rules Will apply to loans of actively traded Digital assets similar to Securities Lending enhancing liquidity in the

Crypto Market Traders and digital assets Will also be able to adopt the mark Tomarket accounting method simplifying Accounting and tax compliance for Frequent Traders so while onchain Metrics and historical Trends paint an Optimistic picture for a potential 2024 Bull Run it's crucial to consider Broader market dynamics the anticip of Regulatory shifts such as the potential Approval of Bitcoin spot ETFs Comprehensive Frameworks like Micah in The U and also evolve taxation roles in The US provide a conducive environment For growth additionally external factors Such as potential fed interest rate cuts And increase institutional adoption Further cement the case for a bullish 2024 finally the Bitcoin Hing event Which has historically ushered in the Crypt bull market should be on Everyone's radar

Coinbase
OUR TAKE

Coinbase is a popular cryptocurrency exchange. It makes it easy to buy, sell, and exchange cryptocurrencies like Bitcoin. Coinbase also has a brokerage service that makes it easy to buy Bitcoin as easily as buying stocks through an online broker. However, Coinbase can be expensive due to the fees it charges and its poor customer service.

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