Aside from the well-known court decisions, 2023 wasn't a very exciting year for crypto. Compared to the average over the past few decades, market activity stayed mostly the same. All year, the prices of Bitcoin (BTC) and Ethereum (ETH), two of the most important cryptocurrencies, stayed the same.

At the same time, the total volume locked (TVL) in decentralized finance ecosystems moved in a tight range, well below all-time highs. This lack of big changes in value was not at all what we usually see with crypto assets. The small price increase in Q4 was a good way to end the year.

It wasn't a good year to make money. But the recent approval by the Securities and Exchange Commission for 11 Bitcoin spot exchange-traded funds (ETFs) applications by big names like BlackRock, Ark Investments/21 Shares, Fidelity, Invesco, and VanEck has caused the crypto market to rise sharply, showing a positive outlook. Many people think that the current crypto winter will be followed by a long bull run. Read on to learn more about "when is the next crypto bull run."

Crypto Bull Run History - A Brief History Of Bitcoin Bull Runs

Bitcoin has had three booms. When Bitcoin went over $1,000 in 2013, it was the start of its first big bull run. Bitcoin hit a low point in January 2015, after reaching a high point of $1,150 in December 2013. It was $171 at the bottom, which is 85% less than the high point. Bitcoin worth $100 at that time is now worth more than $200,000, which is pretty cool.

The price of it went up again in the second half of 2016, and it went up even more in 2017. In December 2017, Bitcoin hit a new high of just under $20,000. Interestingly, the high points of the Bitcoin bull run in 2013 and 2017 happened almost exactly four years apart.

After a bull run in 2017, Bitcoin didn't hit bottom until December 2018. This was 84% less than the high point of $19,900, at $3,200. Two things were the same in both the 2013 and 2017 Bitcoin bull runs and bear markets. It took Bitcoin almost a year to fall below its all-time high after each bull run.

The drawdowns from peak to bottom were almost the same (85% and 84%). 2021 was the year of the third Bitcoin rise. BTC hit a high point of $68,770 in November 2021, which is an all-time high. Also, this peak happened four years after the previous peak of the BTC bull run.

Once the price peaked in November 2021, it dropped to $15,600 in November 2022. The last two times this happened, it took about a year for the market to bottom out after a bull run top. Right now, Bitcoin might be a great way to spend your money. The drop from $68,770 to $15,600 was 77%. It wasn't as bad as other crashes we've seen, but it was still a big drop.

Will 2023/2024 Kick Off A New Bull Run?

The two most important Cryptos seem to be the ones who started this case. First, the next time Bitcoin will be split in half is in April 2024. About every four years, this event takes place, and it lowers the number of Bitcoins that are made as mining awards by half. This means that fewer new Bitcoins will be available on the market.

In the past, the Bitcoin halving cycle has happened every four years, at the same time as the Crypto market's strong and bear markets. The best time to buy Bitcoin has usually been in the year before the halving events, and the best time to buy Bitcoin after the halving events is a year later.

The second thing is that the Ethereum 2.0 change will be finished by the end of 2023. This update, along with proto-dank sharding and the Shanghai upgrade, will make Ethereum much more scalable, secure, and energy-efficient.

The mining and transaction-burning features of Ethereum have also been fully implemented, which has greatly increased the demand for tokens on the network. The second-level ecosystems are also finally fully developed, and the long-awaited zkRollups are now being added to the main net.

This will bring more investors, developers, and users to the Ethereum community, which will make it even more valuable and boost the value of all cryptocurrencies. Today, Ethereum is about 40% bigger than Bitcoin.

It should no longer be seen as just another altcoin but as a leader in its field and a public good. I'm sure that the rise in demand for Ethereum 2.0 will start this cycle off in the same way that the halving of Bitcoin did, and that the two market stars will lead the next bull market phase together.

Top Reasons Why The Next Bull Run Could Be The Biggest Yet

Here are the main reasons why the next crypto bull run in 2024 might be bigger than the ones that came before:

• A confluence of Bitcoin Halving and Ethereum 2.0 - The split event for Bitcoin in April 2024 and the revolutionary Ethereum 2.0 upgrade happen at the same time, which creates a solid base for the expected bull run. In the past, these important events have happened at the same time as big market rises, which suggests that another market surge may be on the way.
• Maturation of Crypto Infrastructure - There have been big improvements in infrastructure in the crypto world, which has made the economy stronger. This level of maturity makes it possible for decentralized applications (dApps) to attract users who want to use them for useful reasons instead of speculation. This change could help dApps reach their full potential, which would lead to huge growth in the crypto world.
• Emergence of Practical Use Cases- As the crypto industry grows, real-world applications that will last are showing up. Aside from decentralized lending and trade, technologies like NFTs, the metaverse, games, and zero-knowledge proofs (ZKs) are also becoming more popular. These use cases, which are based on real-world needs, could lead to more adoption and market growth.
• Widening Adoption and Innovation- As more people start using it, the coming bull run could see a lot of new users. When crypto, AI, and the metaverse come together, they create new solutions that people love. This coming together is likely to speed up growth as big ideas are built on top of this advanced infrastructure.
• Regulatory Clarity and Market Dynamics - Even though regulations aren't clear in some places, the crypto market is set to grow a lot. When regulations are clear, they encourage creativity and let projects grow without being stifled by rules. A good market outlook for 2024 is also shown by the fact that there is plenty of liquidity around the world and that general adoption is growing, especially since spot ETFs came out.
• Evolution of Decentralized Finance (DeFi)- DeFi is still a thriving industry that's ready for new ideas. DeFi is gaining popularity again thanks to new features like derivatives DEXs, tokenized assets, and staking mechanisms. These features offer better returns than standard investments like U.S. Treasuries. The expected bull run could be helped by these new ideas in a big way.
• Technological Advancements and Market Trends- Blockchain's ability to grow and new advances in UI/UX design are removing obstacles between Web2 and Web3. As decentralized apps that are easier to use become more common, a big move from Web2 to Web3 is happening, which is gaining a lot of users. The coming together of crypto, AI, and the metaverse also opens up a lot of opportunities for market growth and new ideas.

A lot of things coming together, like major events, mature infrastructure, real-world use cases, rising adoption, clear regulations, the development of DeFi, technological progress, and market trends, could lead to the biggest crypto bull run ever in 2024.

These factors point to a significant change in the crypto market, attracting more participants and capital, and paving the way for a possibly momentous period of growth and development.

Predictions For The Crypto Bull Market In 2024

Metaverse Development

One of the most important expectations for the next crypto bull run in 2024 is that metaverse development will have a lot of room to grow.

It looks like the crypto market will do well because of the high hopes for the growth of the metaverse market over the next few years. The metaverse market could grow by almost 10 times as much as the crypto market as a whole.

GameFi

People who think the crypto market will be bullish in 2024 point to GameFi as the next big trend. Interestingly, GameFi has a clear link to metaverse technology.

A lot of people think that the GameFi business doesn't have any value in the crypto market right now, but there is a big difference between new and old projects. New GameFi projects get a lot of attention in the review of the top 10 crypto bull run prediction trends.

NFTs

Another big reason for the next crypto bull run is the value of tokens that can't be exchanged for cash. NFTs have been through the worst of the crypto bear market, so they are often used to predict the next crypto bull run.

Why? The secondary market doesn't see a lot of trade for most NFT collections. An NFT drop would lose momentum after a couple of months, and people would only end up gathering the NFTs. It makes sense to think that the world of NFTs will get better as the crypto market goes through another bull run.

Real World Asset Tokenization

The coming crypto bull market would also make it easier to turn real-world assets into tokens. A lot of people think this will happen with the crypto bull market in 2024 since many businesses have been trying out tokenization.

Big businesses, on the other hand, were not fully ready for such a big change. They've been working on tokenizing companies and testing how they work on smaller exchanges.

Artificial Intelligence Creeps Into Web3

AI is making its way into web3. This is another trend that looks good for the coming crypto bull run. AI is one of the most interesting things about the web3 space.

Interestingly, the next crypto bull run prediction for 2024 says that AI-based projects will see a lot of growth. People would be willing to put more money into blockchain and web3 projects that use AI. But it's important to find crypto and web3 projects that use AI and give something useful to users.

Decentralized Autonomous Organizations

Another big trend that would stand out during the crypto bull market in 2024 and 2025 is Decentralized Autonomous Organizations or DAOs. DAOs are a way to manage a project or group without relying on a central authority.

But it's also important to think about how useful it would be to have easy-to-use tools for adopting and using DAOs. In addition, DAOs would need fine-tuned ways for big groups to be managed to show huge popularity growth.

Decentralized Finance

One of the most dangerous trends that will rule the crypto bull market in 2024 is decentralized finance or DeFi. The value of all the assets locked up in DeFi solutions is almost the same as the savings in a big US bank.

Since the DeFi market is always getting more liquid, it makes sense that TVL will also keep growing. All Value Locked, or TVL is the amount of money that is stuck in the DeFi market. Interestingly, the crypto bull run would help new kinds of DeFi options come out. The new solutions would change the way traditional financial services are done in their unique ways.

Innovative DAPPs

One of the most important expectations for the coming crypto bull run in 2024 is that new dApps will become popular. You can look forward to new dApps from both big companies and small startups.

The new dApps could offer game-changing solutions in the crypto market, which would help hardworking developers achieve success. The crypto market would get more people and grow faster with the help of the new dApps.

Large-Scale Transition To Web3

The forecasts for the next crypto bull run also point to the possibility of moving to web3. Many web2 projects are being moved to web3, which is a major trend in the business. It's the most common guess for the crypto bull run that will happen in 2024.

Why? As the number of Web3 projects grows, they will move toward freedom and user-centered value. This means that there will be more decentralized apps on the crypto market, which will bring in more people.

Mainstream Adoption Of Crypto Payments

The most obvious effect of the coming crypto bull run would be that more and more people would use crypto to pay for things. Because of this, more and more hotels and stores would accept cryptocurrency as payment.

The crypto bull run predictions for 2024 would also look at how people will use coins in other situations. To give you an idea, you can use cryptocurrency to pay for plane tickets and other things. The expected rise in the value of cryptocurrencies during the next bull run could help make this happen.

8 Crypto To Consider Buying Now For The Next Bull Run In 2024

Bitcoin ETF Token

Cryptocurrency ETF Token is our top pick for the best coin to buy before the next bull run. Tokens that are linked to Bitcoin usually do well with the market leader. However, the brand-new advanced Bitcoin ETF Token has a unique use case and is closely linked to the much-anticipated Bitcoin ETF approvals.

As soon as the Bitcoin ETFs are accepted, the project will offer many tools to reward holders. The part that gets the most attention is its deflationary process, which makes people want the project more because they don't want to miss out (FOMO), which could drive up its price.

Meme Kombat

Meme Kombat is a new kind of meme coin that crosses over with GambleFi. It has a unique use case, and strong tokenomics, and is at the intersection of two of the biggest trends in crypto right now.

Users can bet on fights between meme coin characters that are created by AI. It has a lot of different game types, big community rewards, and standard odds, which make it an immersive gambling experience.

Avalanche

The Avalanche blockchain is scalable and decentralized, and it has a huge community. The project is mostly about DeFi and crypto gaming, which are two of the most exciting ways to use crypto.

The price of AVAX has recently started a steady rise. It is now selling at $26.26, which is 25% higher than it was last week. So far, it has done better than all 10 cryptocurrencies combined, beating out Bitcoin, Ethereum, Solana, and others. This supports a more positive view of the project.

Pepe

Pepe went from a high of $0.000004354 on May 6 to a low of $0.0000006446 in October. This was after a meteoric rise that made it the third biggest meme coin during the recent bear market.

But when people got excited about the idea again, its price went through the roof, breaking its downward trend. Pepe hit a high point of $0.000001141 on November 10, and then it moved sideways for another almost month.

TG Casino

As seen on Techopedia and Rakeback.com, TG Casino is a groundbreaking new crypto casino that lets you gamble safely and anonymously from the Telegram app. Launching on Telegram has many usage benefits, such as making betting easier, encrypting all communications from end to end, and giving you access to Telegram's one billion users.

Bitcoin Minetrix

Bitcoin Minetrix is another pre-sale cryptocurrency with a novel use case. People are interested in the idea because it has raised $4.9 million in just two months. Users can stake $BTCMTX on Bitcoin Minetrix's Ethereum-based app to mine Bitcoin. People put their $BTCMTX tokens on the line to get mining credits, which they can then use to buy cloud mining power.

IoTA

IOTA is a well-known cryptocurrency that was seen as a rival to Ethereum during the 2017 bull run. But it didn't seem to be as strong during the last bull market because its price didn't set a new ATH.

Still, IOTA has been gaining a lot of steam lately. Its price of $0.304 and market cap of $900 million show that it has gained 75% this week. Still, it has a lot of room to grow—it's still 94% below its all-time high of $5.69 in December 2017.

XRp

A lot of other popular cryptocurrencies have been going up a lot in value lately, but XRP has been pretty stable, going up about 30% since October. It's worth $0.617 right now, and the market value is $33 billion. XRP is now worth 20% more than it was before its historic partial win over the SEC in its lawsuit. This is what makes the price of XRP so exciting.

Frequently Asked Questions

Which Crypto Will Boom In 2024?

It's difficult to predict which specific cryptocurrency will boom in 2024.

Will There Be A Bull Market In 2024?

A bull market in 2024 is possible but not guaranteed, as cryptocurrency markets are influenced by various factors.

What Is The Prediction For Bitcoin In 2024?

Predictions for Bitcoin in 2024 vary widely, with some experts forecasting growth and others anticipating fluctuations.

What Is The Crypto Cycle 2024?

The crypto cycle in 2024 is uncertain, as market dynamics can be influenced by a range of factors including adoption, regulations, and technological advancements.

Conclusion

I hope that you have understood that when is the next crypto bull run. Entering the auspicious year 2024, it seems that the cryptocurrency market's trajectory is about to undergo some major changes.

There is a sense of optimism and potential in the cryptocurrency field due to the expectation of the next crypto bull run, particularly in light of Ethereum's technological breakthroughs and Bitcoin's impending halving event.

Technological advancements, legal changes, and evolving market emotions all seem to be contributing factors to the future of cryptocurrency in India and around the world. See the CoinDCX Year End Report 2023 to learn more about the detailed analyses and predictions influencing the cryptocurrency market.