News - Will the bull run come in 2024? This is what traders and market analysts say

By Ted Maas

Will the bull run come in 2024? This is what traders and market analysts say

Bitcoin (BTC)
Ethereum (ETH)
Investing

2023 was the comeback year for crypto. And so the predictions begin: what can we expect? Let's take a look at some of these predictions.

Crypto is back and the bull run has begun, at least if we gauge the mood a bit. There is some reason for that: Bitcoin closed the year as the second best-performing asset after Nvidia, up about 160 percent. Solana exceeded all prediction with a gain of nearly 1,000 percent.

Updated by the long-awaited halving of Bitcoin coming up in April. In the past, the halving has always caused for the price to increase. Billions of dollars of Bitcoin and Ethereum spot ETFs on Wall Street are about to appear, presumably as early as January 2024.

Fear and Greed Index

So the predictions are now starting to take off. Looking at the Fear-and-greed index, we are currently at "Greed. So is it coming now, the long-awaited bull run? Market analysts and experts have the following to report:

"The potential development of the market seems optimistic, as there is a steady and sustained increase," explains Darby Bodden to Germany's BTC-ECHO. He is a long-time trader and director of the startup Storm. "However, caution is needed against abrupt or excessive rises that could indicate a bubble. Currently, upward movements are fairly gradual in contrast to the sharp rises in 2020."

His colleague and founder of Storm, Sheraz Ahmed, looks at the situation more cautiously: "I believe the bull market is coming, but it is not the best for mass adoption." The reason: "The problems we have seen with FTX, Terra Luna and so on are not yet fully resolved. We have not yet achieved scalability."

A careful bull

Luba Schoenig and Tonia Zimmermann have been investing money professionally for decades, mostly the assets of wealthy people for big banks like Credit Suisse. Now they are sharing their knowledge on their own platform: UMushroom. Their vision for 2024? "Mixed, across all markets", says Tonia Zimmermann. "It will rise at the beginning of the year because new money needs to be invested. But I expect high volatility, for example due to excessive debt. The crypto market is always difficult to predict."

Her colleague Luba Schoenig has the same opinion. "Interest rates are expected to be cut from the second half of 2024, which will boost all risky assets. As for crypto, the panic of the past two years has subsided. Distrust in central banks is growing. I am very bullish."

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