Bull run is coming....

At least we all know this news that Bitcoin will be halving next year. And around this time there is instability in the market. And this bitcoin halving reduces the number of new bitcoins created per block. And that also reduces the supply of new bitcoins, making the purchase price of the coin more expensive. The next uptick in the market occurred shortly after the Bitcoin halving. However, past periods have also seen the market become somewhat volatile before the Bitcoin halving and indicate a bull market. This decrease in Bitcoin supply is the catalyst for a bull market.

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Even now, many crypto experts believe that the price of Bitcoin may exceed $100,000 during this halving. Nothing to say about crypto experts though. Moreover, it cannot be accurately predicted. But this much can be said that during this time the price of each bitcoin increases a lot. Which we saw during the last halving. Where the price of Bitcoin reached the highest in history. But how much this price will increase depends only on the demand even then the demand is stable. As the deadline for the next Bitcoin halving is given around March 2024. So the market will become unstable around this because during this period when the price of Bitcoin goes up, the price of other altcoins will go up as well. What we will essentially see as a bull market.

Over the past few days we have seen Bitcoin suddenly jump to $35,000. Which can be called one of the bull run. But even this is somewhat doubtful in the current scenario as it remains to be seen whether it is truly a bull or a bull trap. As a close analysis of the Bitcoin candle over the past years will show that it has tried and failed many times to break the resistances from $31,000 to $32,500. But it has now jumped to over $5,000 in a short span of time. However, many people have doubts about whether it is a bull run or a bull trap. However, the year 2023 is slowly starting to depart and the Bitcoin halving is approaching. Hopefully the market will start to bull gradually around this time.

But the most hopeful thing is that when we saw the last Bitcoin halving in 2020, we felt the impact quite well in 2021 when the price of Bitcoin hit its all-time high. Other altcoins also rose to record highs. At that time all those who were involved in the market saw one of the bull markets. Since Bitcoin is going to halve in a few days, this time and the next time will be one of the bull market for the market. If there are no adverse effects on the market and the global recession does not affect us, we will see one more bull market in history. Which is soon knocking at our door. And hopefully by that time other coins including Steem will reach great prices.