In this article:
You will learn what crypto bull markets are, and how you can capitalise on them by using your Best Wallet.
Crypto bull markets are a period where the market experiences significant price increases for many cryptocurrencies, as well as many more projects and tokens being launched. This can be a highly lucrative period for crypto investors
Best Wallet can provide you with various features to fully capitalise on a crypto bull market, including direct in-app purchases, seamless swaps, and secure holding of cryptocurrencies.
Understanding crypto bull markets
A crypto bull market, often referred to as a bull run, is a phase characterised by rising investor confidence, increasing demand over supply, and rising prices.
This period reflects widespread optimism among investors, leading to a surge in buying activities.
The term "bulls" describes investors who anticipate that prices will continue to climb and therefore invest in the market. This optimism feeds a positive feedback loop, encouraging even more investment and driving prices up.
Bull markets are most recognisable by the rising prices of major cryptocurrencies, like Bitcoin (BTC) and Ethereum (ETH).
Previous bull markets
Despite the market’s youth compared to the established financial industry, the crypto industry has already experienced several bull runs.
The 2017 bull market remains one of the most notable in cryptocurrency history. Bitcoin's value experienced a meteoric rise, climbing from approximately $1,000 at the beginning of the year to an unprecedented peak of nearly $20,000 by December.
This increase was largely driven by the frenzy around Initial Coin Offerings (ICOs), heightened media coverage, and a substantial surge in retail investors. The result was a significant boost in Bitcoin's public profile, catapulting cryptocurrencies into mainstream discourse.
Another historic bull market unfolded between late 2020 and 2021, with Bitcoin reaching heights above $64,000 in April 2021. This period marked a pivotal transition in the cryptocurrency landscape, characterised by a robust influx of institutional investments.
How long do bull markets last?
It's essential to note that bull markets are temporary. They can end due to various factors, such as regulatory changes, economic shifts, or global events like pandemics.
When investor confidence begins to wane, a bear market may ensue. In this phase, prices fall, demand diminishes, and pessimism prevails, with investors, known as "bears", expecting further declines.
Read our guide on bear markets.
How to take advantage of bull markets with Best Wallet?
Best Wallet users are in a prime position to leverage bull markets. We’ve introduced several features to assist with your bull market investing:
Diverse Cryptocurrency Support: Our wallet supports investing in a broad range of cryptocurrencies, including major altcoins like Ethereum (ETH), Tether (USDT), Polygon (POL), and BNB Coin (BNB). This allows you to buy, swap, and trade different assets, spreading your risk and increasing potential gains.
Onramper integration: Best Wallet integrated with Onramper to give you the most competitive prices when buying cryptocurrencies in-app. This means you can easily and cheaply buy crypto like ETH and USDT to take advantage of the bull market.
Swaps Powered By Rubic: Take advantage of price swings with Best Wallet's Swap feature. Powered by over 200+ DEXs and 20+ Bridges, you can swap your crypto with the best rates, both same-chain and cross-chain. Want a quick-rising token? Quickly and cheaply swap your ETH or USDT!
Manage your investments: Best Wallet has various tools such as its multi-wallet feature to help you manage all your investments in all your wallets during the bull market. For example, you can import all your other wallets into Best Wallet to manage your whole portfolio! Read our guide on how to import external wallets.
Wrapping up
Bull markets are periods when the crypto market is booming, where many cryptocurrencies hit all-time highs (ATHs) and we see many new tokens and projects that often offer high profits for early investors.
These periods offer substantial opportunities for growth, innovation, and profitability. As an investor, understanding the mechanics and characteristics of bull markets is crucial for capitalising on these opportunities effectively.
Best Wallet can empower you during these buoyant market phases, ensuring that you are well-equipped to navigate the highs and lows of the market efficiently.