Is Bitcoin Entering a Bull Phase? Here’s How to Identify the Signs
Jeffrey Gogo is a journalist with 20 years of experience in business, finance, cryptocurrency, and climate change news and analysis.
Elena is the Features Lead at Cryptonews.com. With a Master's degree in science journalism from City University, London, she is passionate about exploring complex topics in the world of technology.
Key Takeaways:
Many believe that Bitcoin (BTC) is on the verge of a massive breakout, signaling the start of a bull market. Analyst Crypto Rover even gave an exact timeframe of when this “bull run” will start: Sept. 30 to Oct. 4.
His predictions are based on historical BTC price performances following an event that happens every four years, known as the “Bitcoin halving,” which reduces the amount of Bitcoin entering circulation.
On Sept. 26, the price of Bitcoin broke through the psychological $65,000 mark. Hours later on X, Crypto Rover declared: “Bitcoin bull market begins now,” which was a few days earlier than his initial predictions.
Many people in the crypto sector share the analyst’s optimism. So, how can you know the Bitcoin bull market—a period that might push BTC to new record highs—has started? We look at some of the indicators that could point to a sustained surge in the price of Bitcoin.
Put simply, a bull market, or a bull run, is a rising market, typically over an extended period. Prices of assets such as stocks, real estate, or cryptocurrency quickly skyrocket as investors buy more of the assets.
A 20% price increase is generally accepted as a sign that the market is moving into a bullish phase. Supply shortages also mark bull markets as demand rises, and investor confidence is often very high.
In bear markets, the opposite is true for all of the above factors. Bear markets are
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