As the world's largest cryptocurrency, Bitcoin has experienced several remarkable bull and bear markets since its inception in 2009. Each cycle is accompanied by different market drivers and shifts in investor psychology. For investors looking to seize the next wave of market opportunities, understanding the operational规律 of these cycles is crucial.
What is the essence of Bitcoin's bull market?
Bitcoin's bull market cycle does not appear out of nowhere but is the result of multiple factors working together. This phase typically features notable characteristics: sustained price increases, surging trading volume, skyrocketing social media buzz, and frequent wallet activity.
Historical data speaks volumes: from May to December 2013, Bitcoin soared from about $145 to $1,200, a 730% increase; throughout 2017, it climbed from $1,000 to nearly $20,000, approximately a 1,900% rise; from early 2020 to