When Will the Next Bull Run Begin?
Many crypto analysts believe that the next bull run will be triggered by the Bitcoin Halving. Glassnode, a crypto analytics firm, has provided insights on when we can expect this next bull market to begin.
Bitcoin Halving Approaching in 100 Days
According to Glassnode’s calculations using the current average block interval, the Halving event is now 100 days away. The fourth halving is predetermined to occur at block height 840,000, but the exact date cannot be determined due to mining block variability.
The reason why analysts predict that the Bitcoin Halving could mark the beginning of the next bull run is because BTC’s price has historically increased significantly before and after every Halving. During the last one in 2020, BTC rose by 17% in the weeks leading up to the event and a further 559% in the following year.
The Catalyst for BTC’s Rise
Delphi Digital’s co-founder Kevin Kelly noted that the last two halvings occurred seven months before Bitcoin reached a new all-time high. Samson Mow, CEO of Jan3 and a Bitcoiner, also recently mentioned this Halving event as one of the catalysts for BTC’s rise to $1 million.
A previous Glassnode report highlighted how the Bitcoin Halving is a significant driver of price appreciation cycles. It also mentioned how distribution pressure from miners could be reduced post-halving.
Could it be Another Sell-The-News Event?
The effect that post-Spot Bitcoin ETF approval had on Bitcoin’s price and the broader crypto market suggests that the Halving event could have a similar effect. Investors tend to accumulate ahead of the event in anticipation of price gains.
However, the Bitcoin Halving is different from Spot Bitcoin ETF approval as it directly impacts Bitcoin’s tokenomics. It is a deflationary measure that reduces miners’ rewards and controls the supply of BTC. This, coupled with supply and demand dynamics and increasing institutional adoption, suggests that significant Bitcoin price gains can be expected post-halving.
Hot Take: The Next Bull Run is on the Horizon
The Bitcoin Halving is just around the corner, and many analysts believe it will be the catalyst for the next bull run. Historically, BTC’s price has seen significant increases before and after each Halving event. With institutional adoption on the rise and the supply of BTC being reduced, it’s likely that we’ll see substantial price gains in the near future. Keep an eye on the countdown to the Halving and get ready for potential market excitement.
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