Since the calendar flipped earlier this week, the cryptocurrency market has recorded heightened volatility. The short-term uncertainty emanating from the upcoming decision by the United States Securities and Exchange Commission (SEC) has sparked high speculations in the crypto market.
Moreover, nearly $1 billion has been liquidated from the crypto-leveraged trades in the past four days. Nonetheless, the initial crypto bullish sentiment that began during the fourth quarter of 2023 is expected to be sustained in the next 24 months.
Why 2024 is the Most Bullish Year?
According to a popular economist and Bitcoin trader, MikyBull Crypto, on the X platform, the macro bull cycle is in the early stages based on fundamentals and technical aspects. As a result, the crypto analyst argues that Bitcoin (BTC) could easily break its all-time high (ATH) during the third and fourth quarters of 2024.
The crypto analyst supported the bullish thesis because high-impact events are on the horizon, including the Bitcoin halving and the highly anticipated approval of spot Bitcoin and Ethereum Exchange-Traded Funds (ETFs).
Notably, the United States Federal Reserve is expected to conduct several rare cuts after a series of hikes in the past few years meant to combat high inflation. Additionally, the United States is in the general election year, which could see several candidates pledge their support for the blockchain and digital asset industry to gain voters’ sympathy.
Altcoins to Keep a Close Eye on
With the altcoin market expected to register higher gains than Bitcoin in the current bull cycle, MikyBull Crypto thinks it is prudent to take a close look at Layer Twos, Layer Ones, AI-focused cryptocurrencies, Gaming and Metaverse digital assets, and perpetual DEX tokens.
