How Long Will the Bear Market Last?
The best way to predict when a crypto bear market will end is to look into the possible events that will occur.
Bear markets are brutal, but there are some important events that could turn things around! Let’s have a look at 4 key events that could end this current crypto bear market.
1. The Ethereum Merge
The most anticipated migration of Ethereum is scheduled to be completed in August this year. Following the success of the Ropsten and Sepolia testnets, Ethereum will run a Goerli testnet before launching the Ethereum mainnet.
2. SEC Could Approve Spot Bitcoin ETFs
The purpose of the Bitcoin Spot Exchange Traded Fund (ETF) is to make trading of these assets wider and adoption of crypto assets greater. Although the application continues to be rejected several times, the SEC has stated that there is still the possibility of approval and a change of decision. If spot ETFs are finally approved, it will bring a new level of legitimacy to Bitcoin and crypto assets as a whole.
3. Bitcoin to Become Legal Tender in More Countries
After El Salvador in 2021 established Bitcoin as its official currency, this year the Central African Republic officially also made BTC a legal tender. Here is a list of countries that are considering BTC as their official currency:
4. Major Companies that Accept Cryptocurrency
Recently, Elon Musk’s company called Boring Company announced that it will accept payments via DOGE Coin. Most likely, if crypto payments integrated by big companies like Amazon or Apple could trigger a wave of bullish momentum.