As the cryptocurrency market navigates into 2024, enthusiasts are excited for the next crypto bull run. Some experts have suggested that the upcoming bull run is expected to peak after the eagerly awaited Bitcoin halving in April 2024.
The Bitcoin halving event reduces coin issuance by 50%. As the crypto market warms up, many are considering buying or exploring crypto coins and tokens in December 2023 right before the new year.
Amidst these shifts, altcoins, including the new fun meme coin ApeMax, are capturing attention. This article examines the signs pointing to a crypto bull run and explores top crypto coins and new altcoins buyers are looking at.
What is a Crypto Bull Run?
A bull market, also known as a bull run, is a phase in which:
- Increased Crypto Trading activity
- Demand exceeds supply
- Market confidence is high; and
- Prices are on an upward trend
But how to know if the bull run is near or when we are in a crypto bull market? Later on in this article will discuss some of the historical signs that analysts have used to spot bull markets.
Top Coins and New Altcoins to Watch Ahead of the Bitcoin Bull Run:
1. ApeMax (APEMAX)
ApeMax is a young contender in the crypto market. The core of ApeMax is its groundbreaking “Boost-to-Earn” staking system, enabling ApeMax holders to boost different entities they may like and earn rewards.
ApeMax has a thriving and quickly expanding community, and its presale is gaining more attention and momentum. Moreover, eligible early buyers can also enjoy discounts with the limited Early Bird Loot Boxes.
2. Render Token (RNDR)
Render Token has made a significant mark with over 500% gains in the past year. Operating as an ERC-20-compatible utility token, RNDR underpins the distributed RNDR Network, a peer-to-peer GPU computing platform. Its positive outlook is fueled by increasing demand for decentralized computing resources in the digital graphics sector.
3. Solana (SOL)
Solana, known for its high-performance blockchain, has grown substantially in 2023. SOL recorded a remarkable 340% price increase over the last year. SOL’s growth is attributed to Bitcoin’s rally, network improvements, newfound interest in altcoins, and increased activities on Solana-based platforms.
Signs of a Crypto Bull Run:
Here are some tell-tale signs of the crypto bull run that might be helpful and that crypto analysts are monitoring:
1. Growing Trading Volumes of Crypto:
A hallmark of a crypto bull run is a surge in trading volumes across exchanges. Historical data from previous bull markets, such as the one in late 2017, underscores this phenomenon. Bitcoin’s trading volume, for instance, skyrocketed to unprecedented levels in December 2017, surpassing $50 billion.
Should this pattern persist into 2024, it could signify the onset of a new bull run.
2. Institutional Embrace
The 2020-2021 bull run was partly fueled by significant corporate investments, exemplified by Tesla’s $1.5 billion in Bitcoin and MicroStrategy’s continuous acquisitions. Such moves inject substantial capital and bolster the legitimacy of cryptocurrencies, setting the stage for potential widespread adoption.
3. Increased Adoption and Integration
One of the key indicators of a bull run is the integration of cryptocurrencies into mainstream financial systems and businesses. For instance, during the 2020-2021 bull run, platforms like PayPal introduced crypto buying and selling, making digital assets more accessible.
What is Altcoin Season?
Altcoins season is a crypto jargon term referencing periods of time during which altcoins outperform Bitcoin as interest in these tokens beyond BTC rises. Altcoin Seasons can spark crypto bull run phases in some circumstances. Altcoins are tokens other than Bitcoin, and they include tokens such as Solana, ApeMax, Polygon, and many others.
When is the Next Crypto Bull Run?
Drawing from Bitcoin’s historical market cycles, some external analysts have suggested that the next crypto bull run might happen after the 2024 Bitcoin halving, with a potential peak around late 2025. However, predicting future price movements in the cryptocurrency markets is challenging due to their inherent unpredictability.
Crypto Market Scene
As signs of a crypto bull run emerge, onlookers are keeping a keen eye on ApeMax, Solana, and many other altcoins. However, crypto enthusiasts should exercise caution and conduct in-depth research before engaging with any altcoin or crypto. This article doesn’t offer investment or financial advice. If you’re thinking about buying cryptocurrencies, be aware of the risks and check for any regional restrictions on specific token acquisitions. For detailed information on ApeMax, visit the official ApeMax website.