Why 2024 is the Most Bullish Year?
With the SEC’s upcoming decision sparking high speculation in the crypto market, nearly $1 billion has been liquidated from crypto-leveraged trades in the past four days. However, the initial bullish sentiment that started in 2024’s fourth quarter is expected to continue for the next 24 months.
A popular economist and Bitcoin trader, MikyBull Crypto, believes the macro bull cycle is in its early stages based on fundamentals and technical aspects, predicting Bitcoin could break its all-time high in 2024’s third or fourth quarters. The crypto analyst points to high-impact events like Bitcoin halving and anticipated ETF approvals to support this bullish thesis. Furthermore, with the Fed expected to conduct rare cuts after recent inflation combatting hikes, and the US general election year, it’s likely blockchain and digital assets will gain more political support.
Altcoins to Keep a Close Eye on
MikyBull Crypto suggests that during the current bull cycle, altcoins are expected to see higher gains than Bitcoin. He recommends keeping a close eye on Layer Twos, Layer Ones, AI-focused cryptocurrencies, Gaming and Metaverse digital assets, and perpetual DEX tokens.
Hot Take
The heightened volatility in the cryptocurrency market, paired with the upcoming SEC decision and the billion-dollar liquidation of leveraged trades, have created short-term uncertainty. However, industry experts believe that 2024 is set to be the most bullish year yet, with Bitcoin expected to break its all-time high and altcoins anticipated to see significant gains as well.
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