Crypto Bull Market: From the First Rally to Current Heights

Bitcoin has experienced several epochal growth cycles since its emergence in 2009. Each such phase was characterized by its unique dynamics, driving factors, and spectacular price fluctuations. By examining the patterns of the crypto bull and the current context, one can better understand how this complex market is evolving.

Anatomy of a crypto bull: what it means for the market

A cryptocurrency rally is a period of active price growth, often triggered by key events and shifts in market sentiment. Unlike traditional financial markets, crypto rallies are marked by extreme volatility and the potential for exponential profits over a very short period.

A crypto bull is recognized by several signs:

• Rapid increase in trading volumes and social media activity
• Massive wallet activation and investor activity
• Positive investor sentiment and expectations of further growth
• Expanded media coverage and penetration into cultural consciousness

The most influential events shaping crypto bulls have been halving events, which reduce Bitcoin’s issuance rate approximately every four years. Historically, each halving has led to a noticeable price jump: after 2012, the price increased by 5,200%; after 2016 — by 315%; and after 2020 — by 230%.

Stages of evolution: from 2013 to 2025

The first major jump (2013)

The initial crypto bull started with an unexpected surge from $145 in May to $1,200 in December — a 730% profit. This period marked Bitcoin’s penetration into mass consciousness and demonstrated its potential as a store of value.

The catalysts for this rally were simple but powerful:

• Massive media attention to the new digital currency
• The banking crisis in Cyprus, which prompted investors to seek alternative assets
• Widespread interest from tech enthusiasts and early adopters

However, this period also revealed vulnerabilities of a young market. The collapse of one of the main exchanges by 70% of all transactions led to panic sell-offs in 2014, with prices falling more than 75% from the peak.

Breakthrough in consciousness: 2017$200

The second major crypto bull was much more impressive in scale. Bitcoin grew from $1,000 at the start of the year to $20,000 by year’s end — a 1,900% increase. Daily trading volume expanded from less than $15 million to over ###billion.

This period was defined by:

• Radical increase in retail interest through crowdfunding crypto projects
• Cryptocurrency’s penetration into culture and mainstream media
• Boom of new trading platforms making Bitcoin purchases easier for the masses

However, this also led to the first serious correction. By December 2018, the price had fallen to $3,200 — an 84% drop from the maximum. Global regulatory pressure, especially in China, accelerated this crash.

Institutionalization: 2020-2021$28

The third major crypto bull was marked by the involvement of traditional financial players. Bitcoin rose from around $8,000 in January 2020 to $64,000 in April 2021 — a 700% profit.

The changing scenario included:

• Massive investments from public companies like MicroStrategy, which accumulated over 125,000 BTC
• Launch of futures contracts and ETFs in various jurisdictions
• A new narrative of Bitcoin as “digital gold” amid unprecedented amounts of money issued by central banks

The correction came faster — from $64,000, the price fell to $30,000 in July 2021, but the institutional base remained strong.

( The modern era: 2024-2025)

The current crypto bull is characterized by new qualities. The approval of spot Bitcoin ETFs in the USA in January 2024 opened the way for traditional financial institutions. In the first 11 months of the year, inflows into these ETFs exceeded (billion, surpassing gold ETFs in the global market.

Variable dynamics:

• Bitcoin grew from $40,000 in January to $87,060 in December 2024 )current price( — 117% for the year
• The all-time high reached $126,080, but the current level shows some correction
• The fourth halving in April 2024 created a supply deficit
• Decreasing reserves on exchanges indicate accumulation by larger players

Unlike previous cycles, this crypto bull has a more structured nature, with less retail speculation and greater institutional participation.

Recognizing a crypto bull: key signals

To anticipate the next rally, monitor several indicators:

Technical indicators:

• Relative Strength Index )RSI### above 70 often signals strong buying pressure
• Breakouts through the 50-day and 200-day moving averages typically confirm a bullish trend
• Rising trading volumes, especially at peaks, indicate genuine interest rather than pump-and-dump schemes

On-chain metrics:

• Wallet activity increases before price explosions
• Inflows of stablecoins to exchanges suggest buying intent
• Falling Bitcoin reserves on trading platforms demonstrate investor willingness to hold assets

Macroeconomic factors:

• Regulatory approval (both in Ukraine and globally) usually triggers price jumps
• Geopolitical tensions often heighten interest in Bitcoin as a safe-haven asset
• Central banks’ monetary policies influence alternative assets

What lies ahead: catalysts for the next rally

Several potential triggers for the next major crypto bull are visible on the horizon:

( Bitcoin as a national reserve

Legislative initiatives in the USA, including proposals to purchase up to 1 million BTC by the government over five years, could revolutionize demand. If the USA includes Bitcoin in its official reserves, other countries will quickly follow — as Bhutan )13,000+ BTC### and El Salvador ###5,875 BTC### have already done.

New investment products

More crypto ETFs, mutual funds, and derivatives are expected to launch. These will create additional channels for institutional capital inflows.

Technological advancements

Reintroduction of OP_CAT could unlock Layer-2 solutions for Bitcoin, enabling it to compete with other platforms in decentralized finance. This would expand Bitcoin’s utility far beyond a store of value.

Upcoming halving cycles

The third halving in April 2024 already created a supply deficit. The next event in 2028 will again limit issuance and potentially stimulate the price.

How to prepare: a practical guide

Education and research

Study Bitcoin’s historical cycles — 2013, 2017, 2021 provide patterns for recognizing signals. Understand blockchain fundamentals and how technology impacts asset value.

Developing an investment strategy

Define your goals: are you seeking short-term profits or long-term growth? Set risk tolerance. The crypto market can be aggressive — be prepared for 50%+ fluctuations.

Choosing a secure platform

Select exchanges with excellent reputation, two-factor authentication, cold storage of assets, and regular security audits. Security is fundamental.

Securing assets

For long-term holding, use hardware wallets stored offline. This protects against hacking and allows you to wait calmly for the rally.

Market monitoring

Follow reputable news and analysis sources. Stay informed about regulatory changes and macroeconomic events that could impact the crypto space.

Responsible trading

Avoid emotional decisions during market turbulence. Set stop-loss orders to protect your positions. Stick to your plan — it’s critical.

Tax planning

Understand tax obligations in your jurisdiction. Keep detailed records of all transactions to simplify reporting.

Conclusions: when will the next crypto bull arrive?

Even experts cannot precisely predict the timing of Bitcoin’s next huge jump. However, history shows that crypto bulls continually return, bringing new opportunities and challenges.

The market’s cyclical nature, driven by halving events, institutional interest evolution, and technological development, provides grounds for optimism. Key events — ETF launches, macro trends, regulatory developments — send signals that can be used to navigate the market.

The current crypto bull demonstrates that Bitcoin has already transitioned from a marginal asset to an influential participant in the global financial system. While volatility remains high, market institutionalization makes it less prone to extreme manipulation.

Stay informed, rational, and prepared. The next rally will inevitably come — it’s important to be ready to seize it wisely.