Preparing for the Next Bull Market: A Comprehensive 5-step Crypto Guide
Summary:
The upcoming bull market, anticipated for the next year, could be driven by the imminent Bitcoin halving event and potential approval of a spot Bitcoin Exchange Traded Fund (ETF) in the U.S. In preparing for the next major cryptocurrency increase, the recent Cointelegraph Report presents a 5-step guide, which starts with understanding Bitcoin's market cycles, followed by advice on managing a crypto portfolio with a focus on Bitcoin and Ether (ETH). The extensive guide is fully explained in a video on their channel.
The commencement of the subsequent bull market is anticipated for the coming year, driven by potential triggers such as the imminent Bitcoin (BTC) halving and the possible sanction of a spot Bitcoin ETF in the U.S. Our most recent Cointelegrph Report details a 5-step guide on how to brace yourself for the next significant crypto uptick. Initially, the Bitcoin market cycle hypothesis is vital to comprehend, a theory suggesting crypto bull markets occur approximately every four years in the aftermath of Bitcoin halving events, where the new BTC supply reduces by 50%. Expert trader Eric Crown suggests we are currently experiencing a pre-halving surge, likely to peak around the low $40,000 range for Bitcoin. He predicts the most substantial price fluctuations are set to occur months post the Bitcoin halving. "Afterwards, we're looking at 3 to 6 months of lateral movement and a downward trend," he speculates.
In our second step, we should establish our crypto balance sheet. Crown suggests using Bitcoin and Ether (ETH) as the underpinning of a diversified crypto portfolio due to their robustness and proven resilience. "I would allocate 70% to 80% to Bitcoin, 10% to 15% to Ethereum, and gamble the remaining percentage on altcoins," Crown advises. To discover the other steps on preparation for the impending crypto bull market, tune in to the comprehensive video on our channel, and remember to subscribe!
Published At
12/4/2023 5:00:00 PM
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