Hear ya go, mate! It's about Bitcoin and the potential for a new bull market this year. Here's why it ain't all doom and gloom:
Bitcoin potentially Stuart in the forefront of the upcoming bull run?
Experts might think it's a long wait till 2024 for the next Bitcoin bull market following the next halving, but things might just take an unexpected turn. A few reasons suggest that Bitcoin could hit $30,000 again this year.
First off, Bitcoin's surprising strength following the FTX crash left many market observers scratching their heads. Despite FTX's collapse, the second-largest exchange for coins at the time, Bitcoin bounced back with only a minor dip to $15,000.
Next up, Bitcoin's close tie to risky tech stocks is evident. Bitcoin's mood often mirrors the tech world, especially for unprofitable tech titans. If interest rate hikes finally come to an end, this could mean good things for Bitcoin and a possible bull run.
Investors are already seeing a rise in trading volumes this year, which helps Bitcoin move closer to the $23,000 mark. With this momentum, it's almost like Bitcoin's already partway there, building solid support along the way.
But hold your horses, Buckaroo! All is not sunshine and rainbows in the crypto world. The wobble of crypto lender Genesis and its parent company DCG, and the iffy future of the Grayscale Bitcoin Trust could mean another disaster after the FTX crash.
While nothing's kicked off just yet, and everything's yet to play out, it's best to keep a close eye on these developments.
If you're looking to dive into cryptocurrencies long-term, check out the BÖRSE ONLINE Best of Krypto Index. It's an easy way for investors to participate in the value growth of major coins, including Bitcoin, Ethereum, Cardano, and more, and it's all traded in Germany!
Disclaimer:The author has direct positions in Bitcoin and other cryptocurrencies and might benefit from their price movements. The CEO and majority shareholder of the publisher, Börsenmedien AG, also have direct and indirect positions in these financial instruments, which might similarly benefit from the potential price action. The displayed prices for the financial instruments are derived from an index developed by Börsenmedien AG, which holds the rights to it. Börsenmedien AG has a cooperation agreement with the issuers of these securities, granting the issuers a license to use the index. In return, Börsenmedien AG receives remuneration from the issuers. Always do your own research or consult a financial advisor before investing.
- Despite the potential waiting period till 2024 for another Bitcoin bull market, experts might be surprised by an unexpected turn in the crypto market.
- If the end of interest rate hikes occurs, such an event could have a positive impact on the price of cryptocurrencies like Bitcoin, possibly leading to another bull run.
- The close eye that investors should keep on crypto-related developments this year includes the potential future of the Grayscale Bitcoin Trust and the stability of crypto lenders like Genesis.
- In light of the possible volatility in the crypto world, those interested in long-term investing in various cryptocurrencies, including Bitcoin and Ethereum, can participate in the BÖRSE ONLINE Best of Krypto Index, which is all traded in Germany.
