The Silent Cryptocurrency Bull Market of 2023


Did you know that Bitcoin has been in a bull market in 2023? You would not know it, but the fact is that it has gone from a low of $15,500 to now over $40,000 per bitcoin. I am coining this the silent crypto bull market, because everyone still seems to think that we are in a crypto winter. Even though Bitcoin has more than doubled from it’s recent lows. And still I really don’t see anybody really talking about it. The year is just about over with Christmas is just a week away and we will be into a new year.

2024 promises to be a banner year for crypto, in my opinion. Why do I think that, you might ask? Well the reason is very simple. It is a Bitcoin halving year. What is that? Bitcoin halvings happen about every 4 years or so, it is when the new supply of bitcoin is cut in half. That essentially means that the new supply of bitcoin that is created through mining is half that of the previous year. With the new supply getting cut in half, there is less supply. If there is a big demand surge in 2024 the price of bitcoin will skyrocket. For no other reason than the supply will be much lower going forward.

With the looming SEC decision on a bitcoin spot ETF, there is much anticipation in the crypto community that the prices of all cryptos will surge on the announcement. This is likely to be a buy the rumor / sell the news event. Where many who bought cryptos at their 2023 lows, will sell when the news is out of a new Bitcoin spot ETF. This could cause crypto prices to go down after the ETF is finally, officially announced. This temporary lull in prices, will be, in my opinion a very good time to get in and buy cryptos at lower prices. Before the inevitible price surge after the bitcoin halving event takes place sometime in late April of 2024. Looking to make some profits in crypto? Check out Etoro and get $10 in free crypto here…

As with any asset investment, there are no guarantees that this will play out as I have laid out in this article. Any number of things could derail this crypto bull market and a recession happening in early 2924 could be one of the risks to crypto going forward. However since the Federal Reserve has all but stated that interest rate cuts are coming. Based on their dot plot rate reduction of 0.75 bassis points in 2024. Which should be a tailwind for crypto going forward into 2024. By the time the public realizes this, prices of many cryptos could be significantly higher.

Not to mention the fact that big players on Wall Street like Blackrock, Vanguard, Fidelity and JP Morgan Chase are all getting into crypto, so they can Profit off of fees that they will charge their customers. When they advise them to put 3-5% of their investments into cryptocurrencies. This is another big tailwind for cryptos going into the new year, in my opinion anyway. So, you can keep your head in the sand and think that crypto is dead and buried. Or start looking for a good entry point to get in, maybe when the etf is launched. If we ever do get any significant pullback going into early 2024, it would be a buying opportunity. Etoro is my go to when I trade crypto get $10 in free crypto here…


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