Bitcoin Blasts Above $24,000 - Are We On The Verge Of A New Bull Market?

As Bitcoin prices surge past $24,000, it’s clear that the cryptocurrency is entering its second bull market. But what does this mean for bitcoin’s future? In this article, I’ll break down the factors behind these price fluctuations and provide an outlook on what investors should expect in the coming months.

What is Bitcoin?

Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a publicly distributed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.

Where is the Price of Bitcoin Heading?

Bitcoin has been on a tear lately, with the price of the digital currency rocketing past $17,000. That’s more than double the price of bitcoin at the beginning of December, and it’s just a hair shy of the all-time high of just over $19,000 that bitcoin reached in December 2017.

With Bitcoin prices surging, some investors are wondering if we’re on the verge of a new bull market for digital currency. Here’s a look at where the price of bitcoin could be headed in the near future.

Short-term predictions for Bitcoin’s price are all over the map. Longer-term predictions are somewhat more settled, but there’s still a wide range of opinions about where bitcoin will be in five years or even ten years. But whether you think bitcoin is headed to $50,000 or $5,000 in the next few years, there’s no denying that its price has been on an incredible run lately.

What Factors Affecting Bitcoin Prices?

There are a number of factors that could be influencing Bitcoin prices at the moment. Firstly, the ongoing US-China trade war is having an effect on global markets and confidence, with investors seeking out safe havens for their assets. Bitcoin is seen as a potential safe haven asset due to its decentralized nature and limited supply. This could be driving up demand and prices.

Secondly, there has been a lot of positive news lately surrounding Bitcoin and cryptocurrency adoption. Major companies such as Facebook, Tesla, and Square have all announced plans to invest in or accept Bitcoin payments. This growing mainstream adoption is helping to boost confidence in the asset and drive up prices.

Finally, it is worth noting that we are currently in what is known as a ‘halving year’. This refers to the fact that the block reward for miners will be halved this year from 12.5 BTC to 6.25 BTC. This event is often seen as bullish for prices as it reduces supply and can lead to increased demand due to increased scarcity value.

Analyzing Bull Market Patterns

When analyzing a potential bull market, there are several key patterns to look for. First, you want to see sustained price growth over a period of time. This can be measured by looking at the price trend over different timeframes – for example, monthly, weekly, and daily charts.

Second, you want to see volume increase as prices rise. This indicates that there is increasing interest in the market and that more people are buying than selling.

Third, you want to see rising highs and higher lows on the price chart. This indicates that the market is making progress and that prices are consistently moving in an upward direction.

Fourth, you want to see momentum indicators such as RSI (relative strength index) move into bullish territory. This shows that the market has enough strength to continue moving higher.

If you see all of these patterns occurring in the market, then it’s a good sign that a bull market may be developing. Of course, nothing is guaranteed in the financial markets, but following these guidelines can help you identify potential opportunities in the market.

What Benefits Could Emerge from a New Bull Market?

The past year has been quite tough for Bitcoin and the cryptocurrency market in general. After a rather impressive run in 2017, prices came crashing down in early 2018, and have yet to really recover. However, there are now some signs that a new bull market may be on the horizon. Let’s take a look at some of the potential benefits that could emerge from such a market:

1) Higher Prices: This one is pretty obvious. If Bitcoin starts to experience sustained growth once again, we can expect prices to increase accordingly. This would be great news for all those who have been affected by the recent bear market and could help to restore confidence in the crypto space.

2) More Mainstream Adoption: Another consequence of higher prices would be increased mainstream adoption. As more people see Bitcoin as a viable investment option, we can expect more businesses and platforms to start accepting it as payment. This would lead to even greater adoption and ultimately help Bitcoin become more mainstream.

3) Greater legitimacy: A renewed bull market would also lend greater legitimacy to Bitcoin and cryptocurrencies in general. The recent bear market has seen many people question whether or not cryptocurrencies are here to stay. But if prices start rising again and adoption increases, it will become harder and harder to deny that cryptocurrencies are here to stay.

4) Increased innovation: Finally, a new bull market could also lead to increased innovation in the space. As more money flows into crypto, we can expect developers to create more ambitious projects and startups looking to capitalize on the growing market. This could lead to even greater advances in this fledgling industry.

Bitcoin Blasts Above $24,000 - Are We On The Verge Of A New Bull Market?

Risk Assessment: Is it Too Risky to Invest in Bitcoin Now?

When it comes to investing in Bitcoin, there are always risks involved. However, is now a good time to invest in Bitcoin despite the risks? Let’s take a closer look at the current state of Bitcoin and see if it’s too risky to invest now.

Bitcoin has been on a tear lately, with the price reaching over $11,000 per coin. This is a far cry from where it was trading just a few months ago and shows that there is still a lot of interest in digital currency. While the price could continue to go up, there is also always the chance that it could come crashing down.

Investing in Bitcoin is definitely not for everyone and should only be done after careful consideration. If you’re thinking about investing, make sure you do your research and understand all of the risks involved before making any decisions.

Alternatives Investments To Consider

The most important thing to remember when investing in alternatives is that you should always diversify your portfolio. With that said, here are some alternative investments to consider:

1) Gold: Gold has always been a safe haven for investors and it’s one of the oldest forms of currency. It’s also a good hedge against inflation.

2) Silver: Like gold, silver is also a precious metal that has been used as currency for centuries. Unlike gold, however, silver is more affordable and thus may be a better option for investors looking to diversify their portfolios.

3) Real estate: Real estate can be a great investment, especially if you’re able to buy property in an up-and-coming neighborhood. Not only will you make money from the appreciation in value, but you’ll also benefit from the rental income if you choose to rent out the property.

4) Art: Investing in art can be a great way to add some personalization to your portfolio while also potentially making a profit if the artist’s work increases in value over time.

5) Bitcoin: Bitcoin is a digital currency that offers investors a high degree of anonymity and security. While it’s still relatively new and volatile, it has the potential to become a major player in the global economy.


It’s been a rocky few years for Bitcoin, with the cryptocurrency enduring a massive bear market from early 2018 to mid-2019. Bitcoin then embarked on a strong rally in the latter half of 2019, pushing its price back above $10,000.

Now, in 2020, Bitcoin appears to be on the verge of another bull market, as its price has surged above $11,000 and is showing no signs of slowing down. This could be good news for cryptocurrency investors who have been patiently waiting for Bitcoin to resume its uptrend.

If you’re thinking about investing in Bitcoin, now may be a good time to do so. However, as always, it’s important to exercise caution and not invest more than you can afford to lose.