The fifth Bitcoin bull market is coming

BTC has gone through four bull cycles, each driven by a different narrative. The first Bitcoin bull run in 2011 was driven by the emergence of Bitcoin as a new payment mechanism. The second bull run was driven by China, where Bitcoin gained acceptance as an alternative form of currency. The third cycle is characterized by the rise of initial coin offerings (ICOs) as a novel means of building and funding companies. The fourth cycle is characterized by a DeFi summer followed by an NFT minting boom.

The fifth Bitcoin bull run appears to be driven primarily by expectations of institutional adoption. Bitcoin's characteristics have traditionally been associated with assets such as gold and other safe-haven investments such as Treasury bonds, leading institutions to consider using Bitcoin to diversify their asset allocations. Bitcoin’s surge is no coincidence as U.S. debt-to-GDP ratio reaches unsustainable levels

This bull market officially started on June 22, 2023, and Bitcoin hit a new one-year high for the first time in a year. Historically, when this signal is triggered, Bitcoin has returned an average of +310%. Based on this signal, we estimate that Bitcoin could reach $125,000 by December 2024.

The best entry point to buy BTC is ideally 14-16 months before the next halving event. That’s why the end of October 2022 is the perfect time to enter, as our report shows, when Bitcoin is trading at just $17,000. Further gains are expected as momentum builds.