The next bull market could kick off as soon as next year, propelled by catalysts such as the upcoming Bitcoin (BTC) halving and potential approval of a spot Bitcoin ETF in the United States.
In our latest Cointelegrph Report, we explain how to prepare for the next parabolic move in five simple steps.
First, it’s important to understand the Bitcoin market cycle theory, which states that crypto bull markets happen roughly every four years following Bitcoin halving events, when the supply of new BTC gets cut in half.
According to professional trader Eric Crown, we are still in a pre-halving rally, which will probably exhaust itself in the low $40,000 for Bitcoin. The biggest price moves, he says, will likely happen in the months following the Bitcoin halving.
“Then we spend the rest of the next, I’d say 3 to 6 months playing out a sideways and downside move,” he predicts.
As a second step, we need to pick our crypto portfolio. According to Crown, Bitcoin and Ether (ETH) should be the backbone of a balanced crypto portfolio since they are the safest, most battle-tested cryptos.
“I would do probably 70% to 80% Bitcoin, 10% to 15% Ethereum, and then the rest could kind of gamble on altcoins,” Crown points out.
To learn about the other steps to prepare for the next crypto bull market, check out the full video on our channel and don’t forget to subscribe!