Greed

Bitcoin ETF

Bitcoin

April

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 Here are four factors supporting the argument for an upcoming Bitcoin bull run as BTC price breaks above $35,000, an 18-month high.
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 <p>As the chances of a Bitcoin exchange-traded fund (ETF) being approved rise, six-figure BTC price predictions are also becoming increasingly common, particularly now that the April 2024 halving is less than 180 days away.</p>
 <h2 id="btc-price-historical-patterns-halving">BTC price historical patterns, halving</h2>
 <p>Bitcoin’s (BTC) price trends often exhibit cyclical behavior. Analysts have drawn parallels between the current price trajectory and historical patterns, suggesting a potential bullish cycle reminiscent of 2013 to 2017.</p>
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/02/9385b27881d9696626518d8c3a06aec3.webp">
  <figcaption style="text-align: center;"><em>BTC/USD 1-month chart (Bitcoin halving marked in yellow). Source: TradingView</em>
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 <p>Similarly, Bitcoin’s historical bull runs tend to follow four-year cycles, often spurred by events like the halving,&nbsp;which reduces the rate at which new BTC is created and earned by miners.</p>
 <p>The next halving event will occur in April 2024, and traditionally, bull runs can <a rel="noopener noreferrer nofollow" title="start" href="https://thebittimes.com/tag/start.html">start</a> months before and continue until the price of Bitcoin reaches a new all-time high.</p>
 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">The cyclical nature of Bitcoin's price is hard to deny. pic.twitter.com/q3RJ1i2blk</p>— filbfilb (@filbfilb) November 1, 2023
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 <p>In fact, predictions that Bitcoin’s price will reach&nbsp;over $100,000 are becoming more commonplace now that the halving is less than 180 days away.</p>
 <p><strong><em>Related:&nbsp;Bitcoin halving 2024: Everything you need to know</em></strong></p>
 <p>But while some believe the upcoming halving will be the&nbsp;most important yet, others argue that it may play out differently this time around.</p>
 <h2 id="bitcoin-accumulation-not-only-whales">Bitcoin accumulation: Not only whales</h2>
 <p>Significant stakeholders are showing confidence in Bitcoin by increasing their holdings. On-chain analytics have revealed a trend reversal, wherein major investors are trading stablecoins for more Bitcoin, which could potentially add momentum for a rally beyond $35,000.</p>
 <p>More importantly, Bitcoin “whales,” or entities with at least 1,000 BTC, are showing <a rel="noopener noreferrer nofollow" title="signs" href="https://thebittimes.com/tag/signs.html">signs</a> of accumulation, which has historically preceded big rallies.&nbsp;</p>
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/02/5bfd18290b2c46c85066ed0f4a036f94.webp" alt="" title="">
  <figcaption style="text-align: center;"><em>Bitcoin: Point-in-time accumulation trend score. Source: Glassnode</em>
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 <p>Glassnodes data shows Bitcoin’s Accumulation Trend Score is currently 1 (chart above), indicating that on aggregate, larger whale entities, which are a big part of the network, are accumulating.&nbsp;</p>
 <p>Additionally, smaller entities have set accumulation records, breaking new highs&nbsp;throughout 2023.</p>
 <h2 id="bitcoin-etf-approval-becoming-likely">Bitcoin ETF approval becoming likely</h2>
 <p>The discussion surrounding Bitcoin ETFs&nbsp;in the United States has been gaining momentum.</p>
 <p>Bloomberg ETF analysts have upgraded the likelihood of a Bitcoin ETF approval&nbsp;to 65%. If approved, such an ETF could attract more institutional investors into the space and positively impact the cryptocurrency’s price​.</p>
 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">Main take away of today: Bitcoin makrket Cap went up by more than $50 billion in minutes, and very likely the money flowing into Bitcoin were less than $500 million (ratio 100:1)<br><br>A former Blackrock Director said that we can expect $150-200 billion flowing into Bitcoin in 3…</p>— Alessandro Ottaviani (@AlexOttaBTC) October 16, 2023
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 <p>A Bitcoin ETF is expected to trigger massive demand from institutions, according to EY.</p>
 <h2 id="crypto-market-sentiment-upswing">Crypto market sentiment upswing</h2>
 <p>The cryptosphere’s Fear &amp; Greed Index, a barometer of investor sentiment, registered a notable score of 72, hinting at prevailing “greed” in the market.</p>
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/02/e170f65bb4713096f3dc7ca3f52018f9.webp" alt="" title="">
  <figcaption style="text-align: center;"><em>The Fear &amp; Greed Index registered a score of 72, which represents “greed.” Source: Alternative.me</em>
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 <p>This shift in market sentiment has been a precursor to price rallies in the past and could be an indicator of an upcoming bull run. Interestingly, this is the highest level of “greed" since November 2021, when Bitcoin reached its all-time high price of $69,000.</p>
 <p class="post-content__disclaimer">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/4-signs-bitcoin-is-starting-its-next-bull-run-tbt68829.html">https://thebittimes.com/4-signs-bitcoin-is-starting-its-next-bull-run-tbt68829.html</a></p>

4 signs Bitcoin is starting its next bull run

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