Could the bear market be coming to an end? There are some major signs that point to this. Keep reading for a break down of the bull case.
Bitcoin Halving Event
Every 4 years, a major crypto event occurs called the Bitcoin Halving. Mining rewards are slashed in half to curb inflation from new Bitcoin being minted. The next Halving is projected for April 2024.
Historical Analysis:
- 2012: BTC rose 365% pre-halving and +8,000% the following year.
- 2016: BTC appreciated by 142% pre-halving and +284% the year after.
- 2020: BTC went up by 17% before the halving and surged by +559% in the subsequent year.
In essence, Bitcoin halvings have often paved the way for significant rallies, making investors quite optimistic.
ETF Approval
Numerous major financial firms have been queuing to file for Bitcoin ETFs. Interestingly, many of these firms were initially skeptical about crypto.
