👇 1) The first Bitcoin bull market occurred in 2011, driven by the narrative that Bitcoin could be a new payment mechanism. The 2013 bull market followed this, as Bitcoin gained recognition as a store of value during the European debt crisis.

👇 2) Additionally, the discovery of Bitcoin by the Chinese, who faced limited investment opportunities due to capital controls and were bound to real estate, stocks, and gold, contributed to this surge.

👇 3)  For some, Bitcoin added a fourth pillar, an important point to understand as China dominated Bitcoin mining for seven to eight years and has potentially mined 50-60% of all Bitcoins. The third Bitcoin bull market centered on initial coin offerings (ICOs) in 2017 as a new way to raise money, while the fourth bull market in 2021 focused on decentralized finance (DeFi) lending and borrowing, and in the later part focused on non-fungible tokens (NFTs) in various forms.

👇 4) Therefore, each of the four crypto bull markets unfolded differently, and the narratives about Bitcoin and what it can do change over time.

👇 5) What needs to be understood is that each of those bull markets also coincided with new ways to acquire Bitcoins. The history of cryptocurrencies is relatively short, with Bitcoin having been around fourteen years and roughly a decade before that with other centralized digital currency attempts.

👇 6) We have a theory driving this fifth bull market. Two resources preparing you for 2024 ‘Part 1: Will the Bitcoin Bull Market Continue in 2024?’ AND the book ‘Crypto Titans: How trillions were made and billions lost in the cryptocurrency markets’ describes the four crypto bull and bear markets and how the crypto industry evolved.

🚀 Part 1: Will the Bitcoin Bull Market Continue in 2024?

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