Cryptocurrency is the fastest-growing technology in human history. Even the Internet cannot compete with it. Just compare that the Internet needed more than 7 years to increase the number of its users from 130 million to 1 billion, while Bitcoin is projected to cope with this task within less than 4 years. Considering such tendencies, there's nothing wondering with the fact that the number of crypto users is growing at 80% annually.
Hundreds of new crypto projects appear every year. Many of them introduce brand-new concepts, which makes the market more diversified. Just about 10 years ago, those who wanted to explore the crypto market could invest only in Bitcoin empire, while today we can even enjoy meme projects such as Dogecoin.
If you want to learn the differences between Dogecoin and Bitcoin, you should go here. In this review, we will discuss the potential bull run and figure out which of these two projects will dominate it.
What is the bull run in crypto?
A bull run is a certain period, during which investors tend to buy cryptocurrencies. This leads to an increase in the coin supply and makes participants more confident in the market, which causes the prices of cryptocurrencies to go higher. In the crypto market, the bull run is indicated by the start of the upwards movements in prices. This makes investors more optimistic about the future prospects of their holdings, that's why everyone anticipates the bull run.
When will BTC prices start going bullish?
Cryptocurrencies are much more volatile than other financial instruments. Consequently, it's more difficult to predict when the market will go bullish. There are too many unpredictable factors that have a very strong impact on the prices of Bitcoin.
Nevertheless, many cryptocurrencies have already expressed their opinions on the following bull run of BTC. According to some technical analyses, Bitcoin will go bullish no later than 2024. The new bull run of Bitcoin should be a logical consequence of the following Bitcoin halving, which is scheduled for 2024. The halving of the mining reward leads to a decrease in the number of coins in circulation, which makes the cryptocurrency more valuable.
Analysts that expect the next bull run of Bitcoin to start in 2024 warn that this won't happen at the beginning of the year. It's projected to begin in May or closer to the end of 2024. Now, Bitcoin is highly devalued due to the recent bull run of the market, which is a good entry point, if, of course, these predictions will come true.
We are rather hesitant that the next bull run will take place in 2024. Why? This is because we consider those bullish tendencies will occur a year after halving. We expect that the next bull run of Bitcoin will take place no earlier than 2025. We've analyzed the Bitcoin history of performance and figured out that this cryptocurrency tends to increase in price a year after halving. This is a trend of the last 10 years. Just consider that the current price record of Bitcoin, $68,789.63, was set in 2021 – a year after its last halving which took place in 2020. Bitcoin entered 2021 at the point of $28,000. At the beginning of 2023, its price will be around $20,000, so we dare predict that after its bull run, which is expected to happen in 3 years, this will be valued at $100,000.
Will DOGE have a bull run?
Predicting the DOGE price is more difficult than the value of Bitcoin. This is because Dogecoin is much more speculative and volatile. Since May 2021, this cryptocurrency lost around 90% of its value.
Despite this fact, it seems that Dogecoin starts slowly gaining value. Last week, it was priced at $0.058, while today the value is $0.074. During its next bullish run, Dogecoin is expected to gain around 210% and reach the price of $0.23. But this is the most optimistic forecast for the 2025 bull run. Many experts take into consideration the highly-speculative nature of Dogecoin and don't dare predict that in 2025 it will be traded higher than $0.13.
When making these analyses of the next bull runs of Bitcoin and Dogecoin, we considered only historical and technical data of both cryptocurrencies. We cannot predict the additional factors that can surge the demand for these coins in the following years. We cannot say what the community attitude will be and what new challenges will occur to these blockchains. That's why you should always conduct your own research and take all other predictions with a pinch of salt, especially, if they are related to cryptocurrencies.
Final thought
We would like to summarize this review by outlining its key takeaways:
- Even the prices of the most sustainable cryptocurrencies are impacted by many non-market factors.
- If you want to invest in a real financial asset, you should prefer Bitcoin to Dogecoin because DOGE has an unlimited supply.
- A limited supply of BTC coins can potentially lead to their scarcity and increase the demand for them, making Bitcoin more valuable.
- Dogecoin lost 90% of its value over the course of the passing year.
- The next bull run of Bitcoin can set a new price record for the cryptocurrency.
- Bitcoin is the biggest cryptocurrency right now and its price can change by thousands of dollars.
