Expert Says ‘Biggest Bull Run Has Started’ Cites US Election, Bitcoin Capitulation And More

Crypto analyst Sjuul from AltCryptoGems has declared the start of the “biggest bull run” in crypto history. The expert points to several key indicators, including the upcoming U.S. election, Bitcoin capitulation, and altcoin market cap trends. This bullish prediction comes amid growing optimism in the crypto community.

The analyst highlights five charts supporting their bullish outlook. These charts encompass various aspects of the crypto market, from historical patterns to technical indicators. Let’s examine these factors in detail.

Election Year Pump and USDT Dominance

Historical data shows a consistent pattern in crypto markets during U.S. election years. In 2012, 2016, and 2020, Bitcoin experienced several months of consolidation followed by price increases in the fourth quarter. The expert suggests 2024 will likely follow this trend, with consolidation in Q3 and a substantial pump in Q4.

Another indicator is the relationship between USDT (Tether) dominance and Bitcoin price. The analyst notes that when USDT supply increases while its market dominance decreases, Bitcoin and other cryptocurrencies tend to surge. This pattern has been observed in recent market movements.

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Bitcoin Capitulation and Altcoin Market Cap

The expert points to Bitcoin’s weekly Bollinger Bands touching the lower bound for the second time since the FTX crash. Previous instances of this occurrence led to significant price increases. Based on this pattern, the analyst speculates Bitcoin could reach $120,000 by Q1 2025.

The altcoin market cap is showing signs of entering an impulsive wave, according to the analyst. They predict the peak of the third wave could reach around $4 trillion by Q2 2025. The final wave is expected to occur in Q4 2025, potentially leading to an “altseason.”

Read also: Have Ripple vs. SEC Settlement Rumors Fueled XRP Price Pump?

ETH/BTC Reversal and Future Outlook

The expert discusses the ETH/BTC pair. Historical data shows Ethereum reaching new all-time highs roughly a year after Bitcoin halvings. With the accumulation phase seemingly over and ETH ETF trading on the horizon, the analyst believes the ETH/BTC bottom is in.

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Samuel Munene
Samuel Munene

Samuel is a vesatile and seasoned content editor with a sharp eye for detail and a passion for writing. Web3 techonology is the future! With massive experience in the publishing industry, I specialize in refining and enhancing written material to ensure clarity, coherence, and engaging narratives.

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