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DOMAINS TOKEN-G

Rachel Welch

26 September 2022 136 Read Bitcoin

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How to Predict a Bitcoin Bull Market

While the cryptocurrency industry is dominated by investors, a bull market is not always easy to predict. There are a number of factors that can cause the price of bitcoin to drop. These include halving of the currency, rising inflation, and the collapse of major crypto lenders. These factors could make it harder for bitcoin to become mainstream and affect the overall value of the market.

halving

Bitcoin has already suffered two halvings in its short history and will soon see another reduction in reward to miners. The halving event always results in a short period of parabolic growth, which lasts for about a year, and then the market enters a protracted bear market.

Rising inflation

With the rising cost of goods and services, one of the best ways to hedge against inflation is to buy digital assets. Bitcoin has been a great choice for this purpose. Inflation has historically been low, but it is spiking at a rapid rate. Prices have skyrocketed in the United States and Europe, and are now at 8.3% CPI, a 400% increase over the 21st century's average.

Draper's belief that women will drive up the price of bitcoin

According to Draper, women will be the biggest force in driving up the price of Bitcoin. He believes women's purchasing power will be the catalyst for the next rally. He estimates that women control 80 percent of retail spending.

Taking regular profits in a bull market

As a bitcoin bull market trader, you should consider taking regular profits. This can ensure that you are returning a portion of your initial investment as well as holding a mix of different assets to use as long-term investments. Taking regular profits is one of the best ways to avoid FOMO (fear of missing out), a phenomenon which occurs when investors sell too early during a bull market. It also helps to avoid triggering the sell limit order, which will automatically sell your crypto when the price reaches a certain level.

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