Is Bitcoin currently at the end of a bear market or the beginning of a bull market?
Personally, I believe that the current market is in a shock cycle after the end of the bear market and before the start of the bull market. That is the area where the main bankers attract money. After the fund-raising is completed and the market washing is completed, the big bull will be officially launched.
2. Why do you think so?
Personally, I believe that Bitcoin’s absolute bottom of 15,500 has been formed at the end of last year.
With the recent implementation of Hong Kong’s crypto market trading policies and the entry of international giants and Wall Street capital. What these institutions want is no longer as simple as market making. They want to be the banker. Being a banker requires controlling the chips.
After more than a year of bear market, Bitcoin is now a perfect time to build a position. Promoting Bitcoin spot ETFs will also provide large institutions with better trading platforms and trading depth. ETFs will bring a huge increase in Bitcoin trading volume.
3. When will the bull market start? What are the factors?
Personally, I believe that the bull market will start next year.
Factors
First, Bitcoin will see a reduction in production next May. The reduction in production every four years has always driven a bull market in Bitcoin. The change in cycles will also lead to nodes.
Second, the Bitcoin spot ETF promoted by large institutions was passed, and even the Ethereum spot ETF was passed.
This will provide a very large trading volume for the crypto market. It should be noted that the current size of the entire crypto market is still like an "ant" in the eyes of traditional giants, and rising tides will lift all boats.
Third, the Fed’s recent dot plot shows that interest rate hikes will occur in 2023. 2024 may be the beginning of a new round of interest rate cuts.
Fourth, the Hong Kong cryptocurrency trading policy has been implemented. With the implementation of the Hong Kong policy, Eastern capital finally has a legitimate channel for speculation. The injection of funds will also promote the development of the overall industry and the rise of the cryptocurrency market value.
4. What is the expected price of Bitcoin and Ethereum in the next bull market? Personal prediction (not investment advice)
Bitcoin will break through $100,000 in the next round and eventually reach around $130,000-150,000. In other words, one Bitcoin may be worth 1 million RMB in the future.
Ethereum may break through $20,000 and eventually be between $22,000-25,000.
The above are some of my personal opinions. If you have different opinions, please leave a message and share them with me.
But I am actually looking forward to various news reports about Bitcoin breaking through $100,000 and Ethereum breaking through $20,000, haha!