Five Factors That Could Drive the Next Crypto Bull Run

What new forces might drive the next crypto bull run? BeInCrypto asked some industry experts for their take.

2021 was a boom year for the crypto markets. It was the year that crypto, blockchain, and web3 took center stage. Facebook rebranded as Meta, banks moved into the space, and NFTs were on the tip of everyone’s tongue.

The 2021 crypto bull could be attributable to many things. Institutional adoption and acceptance of cryptocurrencies by major brands gave the sector a new sense of legitimacy. Low-interest rates during the COVID-19 pandemic led to inflation fears. Hence, investors turned to alternative investments like cryptocurrencies. During the COVID-19 pandemic and subsequent lockdowns, most people spent more time online. That once-in-a-generation event also provided the perfect petri dish for crypto to gain momentum.

Since the rolling disaster that was 2022, the industry has been looking around for the next source of growth. BeInCrypto asked some experts what might drive the next sustained market upswing.

Bitcoin Halving

Bitcoin halving occurs every four years, when the number of new bitcoins miners can mine is cut in half. This limits the total supply to 21 million. This event is programmed into the Bitcoin protocol and is designed to limit the total supply to that number. The next halving will happen in or around April 2024.

“It is the anticipation of Bitcoin halving by investors in the second half of 2023 that can become the main positive stimulus for the market, which should provoke a change in the global trend to an upward one,” Gracy Chen, Managing Director of cryptocurrency exchange Bitget, told BeInCrypto. “After halving, the price of bitcoin always increases, and other cryptocurrencies follow it.”

Protocol Utility

A trend that experts predict in the upcoming crypto bull market is a shift toward emphasizing the usefulness of crypto protocols. This means that investors will focus more on how cryptocurrencies can be used practically in real-world situations rather than solely on their speculative value.

“While past bull markets may have been driven by hype and speculation around certain tokens or projects, I believe that

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Author: Josh Adams

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