6 things that will trigger the next Bitcoin bull market
6 things that will trigger the next Bitcoin bull market
In its relatively short history,Bitcoin experienced numerous ups and downs, but only a few were referred to as a real bull market. The last one was at the end of 2021 when the cryptocurrency shot its new high of $ 69,000.
What followed was a massive drop in prices that led to BTC crashed up to $ 20,000 in several collapse in the industry as well as a galloping global inflation and a war.
Since Bitcoin has made a clear ground on the ground since his undertaking under $ 16,000, the community often speculates whether a new bull market has already started or is imminent. In this topic we will examine what the AI Chatbot Chatgpt thinks.
assumption
Although Chatgpt has done a few things wrong at BTC, such as the all -time high price, the chatbot provided some interesting findings about what could advance the next bull market. First and foremost, global acceptance, which consists of two parts - was emphasized - the market and the institutional - and we have summarized them.
As far as the market acceptance is concerned, Chatgpt assumes that the price of the cryptocurrency will resume its upward trend as soon as more companies begin to accept it as a payment method. This will help to "create a positive mood and to boost demand".
"Factors such as the integration of Bitcoin payment options by large companies or the introduction of regulated Bitcoin investment vehicles can contribute to a bull market."
An institutional introduction could also help to drive up the BTC price. Keep in mind that numerous companies such as Microstrategy, Meritual, Tesla, Blackrock and others either bought parts of the financial value during the last bull market or have dealt with it in other ways. A repetition of this scenario could trigger another bull run.
technological developments
The AI chatbot also brought up certain technical developments that could be one of the reasons for a new rush. For example, after the Tarpoot upgrade, the Bitcoin network recorded increasing acceptance and more commitment, which also made it possible to create NFTs.
So far,of this has particularly benefited miners due to the increased number of transactions and the higher fee costs. However, according to Chatgpt, there are also other factors and possibilities.
"Significant progress in the underlying technology of Bitcoin or improvements in scalability, security or data protection functions can provide excitement and attract more users and investors."
regulatory clarity
Although several countries have made the first attempts to regulate the cryptocurrency industry in recent years, it still remains largely unattended. In fact, some of the greatest nations, such as China and the United States, either officially banned the asset class or simply failed to issue detailed regulations that can help her to wealth and at the same time protect investors.
should that finally change, Chatgpt assumes that the BTC price will tend back up.
"Clear and favorable regulations can create a more stable environment for cryptocurrencies and strengthen the trust of investors. Positive regulatory developments, such as the recognition of Bitcoin as a legal form of payment or the establishment of supporting framework conditions for cryptocurrency companies, can promote market growth."
The situation in the USA has been particularly harmful in the past few months, since the SEC, without clear guidelines, provides which crypto-assets are securities, against companies such as coinbase, bony, octopus and others.
economic and geopolitical factors
As mentioned above, the war broken out in Europe caused investors in various sectors, including crypto, pain. In addition, the increasing inflation and the desperate tests of the central banks to combat them led to drains from risky assets such as BTC.
But on a rather macroeconomic level, Chatgpt believes that the poor economic situation, currency devaluation or political unrest could cause people to turn to Bitcoin. The interest in primary cryptocurrency will probably increase, since people will search for "decentralized and not state -controlled assets such as Bitcoin".
We saw similar developments in countries such as Argentina and Turkey, where the locals have been struggling with two and even three-digit inflation rates for some time. Therefore, chatt repeated the words of the legendary alt investor Paul Tudor Jones III:
"In times of economic uncertainty, some investors may consider Bitcoin to be secured against traditional financial systems, which may drive up its price."
The Bitcoin thermalation
Last but not least, the AI Chatbot brought up the halving events. They have been integrated into the Bitcoin network since 2009 and take place all 210,000 blocks (approximately four years). The aim is to reduce the block rewards and thus reduce the speed with which new BTC are created.The previous three halves followed massive bull runs, and Chatgpt claimed that the next halving - which is expected to take place in April next year - will probably lead to the same price movements.
"In the past, half-time events fell together with bull markets, since a reduced offer and a potential increase in demand had had a positive impact on the Bitcoin price."
If you would like to receive more information about what will happen according to Chatgpt during and after the next halving with BTC, please read this article.
And if a new bull cycle actually occurs, you should prepare with these tips.
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