Top 3 Reasons for Why Bitcoin Is Still Set for a Bull Run and When It Will Happen

The token has entered a recovery phase, according to the long-term prediction, and a bull run may be coming. Top 3 reasons for why bitcoin is still set for a bull run and when will it happen

While limiting bearish actions to within a specific range, Bitcoin is working hard to sustain a steady upswing.

The fourth quarter, which historically has been optimistic, has begun for the cryptocurrency markets. The dealers also seem upbeat about the forthcoming price movement. A similar picture is also painted by the current price trend, which shows that the price of bitcoin is still trying to reach $28,000. Although the trend has continued to be upward, market analysts think a significant correction might also limit the rally’s progress.

Top 3 reasons for why bitcoin is still set for a bull run and when will it happen

Bitcoin is about to start an impressive recovery.

Since its launch, Bitcoin has mainly followed a trend. Every bull market ends with a major bear market, as is depicted by the red candle above. The bulls also regain control, which is followed by a period of recuperation and a significant bull run. Following the bull market of 2021, the BTC price stayed bearish in 2022. A good recovery may follow now that the price is getting closer to setting off a rebound, opening the door for the next bull run in the coming years.
This is one of the top 3 reasons for why bitcoin is still set for bull run and when will it happen.

The Bitcoin price has entered the Pre-Halving Phase.

One of the most important elements that causes a significant price increase is halving. As can be seen in the chart above, the price saw a significant increase after a period of consolidation following the halving event. To test the lower support like it did previously, the price appears to have entered a pre-halving phase.
This is the other top 3 reasons for why bitcoin is still set for bull run and when will it happen.

According to the historical price trend, shortly after 2023’s new year, the BTC price crossed over the monthly downward trend line. Only after a slight retreat, the price followed a sharp rally to set new records. Therefore, before beginning a sharp rebound to reach the highs close to $100,000, the BTC price may return to the lows near or below $20,000 once more.
Last but not the least and this is one of the top 3 reasons for why bitcoin is still set for bull run and when will it happen.

Top 3 Reasons for Why Bitcoin Is Still Set for a Bull Run and When It Will Happen

After experiencing a couple of rejections at these levels, the price of bitcoin is currently battling to advance beyond $28,000. Because of this, altcoins now seem to be unsure about the upcoming trend, despite the fact that a significant shift is on the horizon. This might provide alternative currencies an advantage over Bitcoin. This does not necessarily imply the beginning of an Altseason, but it also does not completely rule it out.

The supremacy of Bitcoin has been emitting incredibly optimistic signals over the past few months. It was anticipated that this would eventually perform better than the average cryptocurrency in the future. The most recent trade setup suggests that BTC dominance may increase further and approach 60%, but that a rejection may take place before it reaches these levels.

As can be seen in the chart above, BTC dominance is anticipated to increase until the halving event, which may cause the price to increase to between $35,000 and $38,000. However, the dominance is also anticipated to decline because the price has been going through a brief period of relaxation following the occurrence. The AltSeason might start at this time, driving up the prices of most cryptocurrencies.

Altcoins to Consider This Month

Polygon (MATIC)

Ripple (XRP)

Avalanche (AVAX)

Polygon (MATIC)

One project that has been focusing on its foundation and producing a solid, usable product is Polygon. Due to this, market participants continue to be upbeat about the token’s long-term value. Despite a price decline of more than 65% since the beginning of 2023, the resurgence that began in the latter days of September emphasizes the likelihood of a recovery. Therefore, the MATIC price is ready to hit its temporary barrier at $0.6 and then move in the direction of $0.65.

Ripple (XRP)

The price of XRP has maintained an upward trend since the beginning of the year. The Ripple v. SEC verdict increased the price by almost $1, but it was unable to hold above the gains, causing it to fall back to its starting point. Since the beginning of the month, support at $0.5 has held as the price has been moving upward in an ascending trend. As a result, a major bullish action is anticipated, which may initially push the price above $0.55. If bulls show some power at this point, a move to $0.6 may be on the horizon.

Avalanche (AVAX)

Avalanche’s price sharply declined in line with market trends, producing steadily lower highs and lows. However, the token has recently demonstrated exceptional strength, raising the likelihood of a robust comeback. The cryptocurrency has climbed to a two-digit level and is attempting to build a solid foundation there. The bulls are anticipated to strengthen in the next days and drive the price up toward the significant resistance level at $13.69.

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