The next Bitcoin bull run is probably what every BTC investors and crypto enthusiast would like to hear about, especially these days when the cryptocurrency market is seen in a more than obvious dip.
Since mid-November specifically, the crypto market is plummeting, losing value in what appears to be a market crash.
The cryptocurrencies have had a rough year; however, it wasn’t until November 2018 when top cryptos like Bitcoin, Bitcoin Cash, and Ethereum started to lose a great portion of their value in the market.
Bitcoin (BTC) Price Today – BTC / USD
That is how Bitcoin is seen down by over -14% in a single day, while the crypto is now recording -45% of losses in its year to date chart.
At the same time Bitcoin has plummeted down to its new low price in 2018, so everyone is wondering whether the plummeting will ever seize before the top currencies are completely devaluated.
Will Bitcoin get to see a rebound any time soon and if so, when will Bitcoin bull run take place?
Are There Any Signs of the Upcoming Bull Run for Bitcoin?
Bitcoin is touching its lowest price in the course of the last year. That is how with the latest dips, BTC is also marking -77% of loss since reaching its all-time high of around 20,000$, recording major losses.
The overall dominance of Bitcoin in the market is said to be set around 53%, which means that the dipping of BTC is probably pulling the rest of the market down as a consequence.
In the course of the last hour, BTC is seen up by 1%; however, this momentum is just not enough in order to provide ideal conditions for Bitcoin to be able to go after new gains.
At this point, BTC is set at the price of 4,480$, which is the lowest price that the first crypto had seen since summer of 2017 before it was able to spike towards its all-time high.
The goal of 20,000$ is now definitely out of reach for BTC, especially since the crypto is losing -30% of its value in the course of the last seven days, dropping by -15% in a single day as a part of this mass dip.
When Will Bitcoin See the Next Bull Run?
That being said, it appears that Bitcoin with the rest of the crypto market will hardly get to see any serious gains by the end of November.
However, not all hope is lost as 2018 is coming to an end, making some room for the upcoming New Year hype that might bring some gains with it.
It is considered that although BTC is seen in a severe loss with declining from 111 billion in market cap to 87 billion dollars in less than three weeks, December might bring a bull run for Bitcoin.
Just as it was the case with the end of 2017 and the beginning of 2018, the scenario might as well repeat for the end of this year as well, which means that BTC might see a bull run at the end of 2018 and the beginning of 2019.
However, although BCT will get to see a rebound, it probably won’t be able to go far from 6,000$ given the fact that it went below 5,000$ in only several days.
The CEO of Binance, one of the most popular exchange markets, Changpeng Zhao, claims that the Bitcoin bull run is definitely taking place as something will surely trigger it sooner or later.