The post This Is How Bitcoin (BTC) Could Resume its Bull Run and Chart New ATH appeared on BitcoinEthereumNews.com.

It’s safe to say that the highly-anticipated 2024 bitcoin bull run is not going as planned, even though the asset managed to break its 2021 all-time high early on. However, it has lost some traction and speed on the way toward the coveted $100,000 mark, but Perplexity listed some of the factors that could propel another run by the end of 2024. Market Sentiment, Regulatory Developments Bitcoin made history this year as it charted a new all-time high before the scheduled halving. That happened in March on the heels of the massive demand for the spot BTC ETFs in the States, which were greenlighted in mid-January. This led to heightened hopes that the 2024 rally would be spectacular and could finally see the primary cryptocurrency skyrocket to the $100,000 target, especially after the completion of the halving. However, that has not been the case. The fourth such event indeed took place as scheduled in April but the landscape has been anything but overwhelming since then. Although BTC came inches away from breaking the March ATH of almost $74,000 on a couple of occasions in May and early June, it failed to do so and the subsequent rejections pushed it south hard. In fact, it dumped to under $50,000 in early August. According to the popular CharGPT rival, Perplexity, BTC could overcome the current sluggish landscape only if certain factors improve. The first listed ones were the overall market sentiment and investor confidence. The AI chatbot said the current sentiment is “cautious, with a fear and greed index reading indicating a general sense of fear among investors.” “A shift towards more optimistic sentiment, characterized by increased trading volumes and positive news cycles, could help restore confidence in bitcoin. A return to a more bullish outlook could encourage more buying activity, which…

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Filed under: News - @ August 31, 2024 8:20 am