Realistic Look at Next Bitcoin Bull Run
The longer that you are in the Bitcoin market, there is something that you will begin to notice. While prices are going up, everyone becomes overly bullish, and also overly bearish while prices are dropping. The last two years have been great examples of this. In 2021 after Tesla had announced it bought Bitcoin, the FOMO in the market was through the roof. At the time, Bitcoin’s price was just under $40k, but in the weeks to follow would rise all the way up to $64k. Experts and analysts were claiming that this was only the beginning. If you made price predictions for it only reaching $100k, this was considered to be a bearish take. Instead, there were predictions for $200k,$300k, $500k, and even higher. An idea called the Bitcoin Super Cycle even began to become popular. As we now know, Bitcoin wouldn’t even reach the lowest of those predictions.
On the flip side, when the market turns bearish analysts claim that this is the end for Bitcoin. That was the mood in the market in the last few months since the FTX fraud was discovered. Always remember that at the moment things often aren’t as great as they seem, but they also aren’t as bad either.
Taking all of this information into account, if we have learned one thing in the last few years it is that predictions are a dime a dozen. They are fun to make, but shouldn’t be relied upon when making investments. That’s why doing your own research is so important. With all of that said, today I will be sharing a realistic look at the next Bitcoin bull run. I won’t be making outlandish predictions that have no chance of happening, and I won’t sugarcoat anything. These are my real thoughts on what I think will happen.
Sometimes it seems that Bitcoin has a mind of its own. When everyone believes one thing will happen, Bitcoin often does the exact opposite. The same goes for Bitcoin bull runs. Often the price goes much higher than any of us could have ever imagined. But just when blow-off the top cycles were beginning to become expected, Bitcoin’s price didn’t go up as much as usual.
Bullish Factors
Making up for Lost Time
There is a thought that Bitcoin had its wings clipped during the last bull cycle with a never-ending amount of FUD and black swan events that took place. Due to all of that happening, it was unable to ever realize its full price potential. Perhaps those outlandish price predictions were destined to happen, but we will never know. The idea is that because all of that happened, Bitcoin is actually severely underpriced. This means it could make up for lost time and see its price rise even further this time.
Ordinals
Ordinals and NFTs on Bitcoin are one of the most debated subjects in the crypto market currently. I will go more in-depth on them in a future article, but there is a decent chance that NFTs on Bitcoin could cause a bullish movement in the market. Equal to, or perhaps even more than what we saw with the NFT bull run last year. While owning NFTs on Solana, Tezos, or any other blockchain is cool. But being able to own them on Bitcoin, the most secure and decentralized blockchain is even cooler. As I have been talking about for years now. While development is slower on Bitcoin, eventually everything that is possible on other blockchains will eventually come to Bitcoin.
NFTs on Bitcoin will cause the demand for Bitcoin to increase even further resulting in the price increasing.
Corporate Adoption
After Microstrategy, Square and Tesla put Bitcoin on their balance sheets many of us were convinced it would be the start of a stampede rush toward corporate Bitcoin adoption. However, that never happened.
But, there are hints that this could soon be changing. News broke that last month Bitcoin was mentioned in 424 company SEC filings. This means that either companies have already begun buying, or are thinking about it in the near future. This is something that we will need to keep an eye in on the future.
Tick Tock, Next Block
As crazy as it sounds, each new day that Bitcoin is alive and producing blocks, it is another day stronger which is very bullish for Bitcoin. The next Bitcoin halving is only about 15 months away from now, and that is the most bullish thing on this list. If all of the others were deleted from this list and only the halving remained, the next bull cycle would still be great. However combining the fact that the issuance rate will be cut in half, while demand has never been higher. Bitcoin has been named legal tender in two countries and is even been used to raise money for countries via Bitcoin bonds.
Some of the biggest oil companies in the world are beginning to enter the mining market. Lightning adoption has never been stronger and NFTs have come to Bitcoin. Time is running out to accumulate before the next halving takes place.
Peace in the Market
Finally, the last bullish factor is simply there being peace in the market. Once the macro situation recovers, a world war isn’t a threat, and there are no longer any insolvencies in the crypto market. That is when the price of Bitcoin can finally recover, and likely soar to new highs.
As we all know, it won’t always be great days for Bitcoin. Before the insolvencies took place last year there was FUD about mining energy usage, and large countries like China banning it. When prices begin rising we will likely see these same arguments thrown against Bitcoin once again.
But where will the price of Bitcoin go during the next bull run?
One thing to keep in mind is that while Bitcoin’s price becomes larger, it also takes a lot more money to increase its price. This is why Bitcoin price often moves slower than lower-cap altcoins.
The all-time high price for Bitcoin was $69k. I think there is a good chance that we could see the price of Bitcoin do at least a 3x from that high price. Rising to $150k-$200k.
How about you? What is your realistic opinion on the next Bitcoin bull run?
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