Often times in the cryptocurrency market many people argue about which coin is the best? Which coin has the best technology? Which coin will make you the richest?  Which one has the best chance to become the worldwide currency of choice?  Which coins are scams? These are all questions that it is quite likely we will never all agree on the correct answers.

But there is thing that nearly all people in the crypto market can agree on, and that is we are all excited for the next bull market to begin! 

That does give us one very large question though.  What will be the thing or event that sets off the next bull run!?

While the bull run in 2017/18 had many key points that led to the run happening, most people will agree that part of it was the bitcoin halving that happened the year before, but also the ICO coin craze that followed that also helped to jumpstart it.  The prices reached never seen before highs, with Bitcoin at about $20,000, and Ethereum around $1,400, it was a time that a lot of people made life-changing money. But what will set it off this time? 

These are all just a few possibilities that could set off the next bull run, or contribute to it in someway. There could be many others.

1) Covid 19

This is perhaps the most obvious option on the list.  The world is completely different than it was just 8 months ago, and it may never been the same.  Governments have printed an obscene amount of money, pumped that money into the money markets, given companies bailouts, all-the-while not seeming to be too concerned about the inflation that will occur.  Not only that, but the unemployment rate in the US, and around the world is at unprecedented levels, and the effect of this pandemic might not fully be known until everyone tries to return to work, especially when jobs aren’t there. And then there is the possibly of the virus having a 2nd wave comeback. 

Whatever you think about the virus, one thing is certain and that is it has made people more aware that they need to focus more on their savings.  Growing their wealth, and protecting their wealth.  For these people, Bitcoin is a great choice for them and if just a slightly larger percentage of people around the world decide to invest in Bitcoin, that could be the catalyst that sets everything off.  Remember, there is a very limited supply of Bitcoin out there, only 21,000,000.  Not enough for every millionaire in the world to have just one.

2)  Bitcoin Halving 2020

I feel this is another no-brainer option as well.  As the crypto market currently consists, the market is almost completely tied to bitcoin.  As bitcoin moves, so does the rest of the market.  As you may know, in May the mining reward for Bitcoin was just cut in half, which cuts the amount of new coins being made each day half, cutting the inflation rate in half.   If you know how supply and demand works, it is easy to understand what could and will happen with this situation, especially when you take into account the world situation.  If only the same amount of people continue to purchase bitcoin, there will be a smaller supply for them to purchase from causing the price to go up.  When the price goes up, other investors looking for profits will want to join in, which will cause the price to increase even more.

Something to note is that the halving usually has a delayed effect.  The crypto market usually enters a bull market about a year or more after the event.  So maybe towards the end of this year, or sometime next year this could happen.

3) USA Riots and Police Distrust

While I won’t go into the racial aspect of this situation, I will say that many people have lost a lot of trust in the government with these events taking place.  Not trusting the government to keep them safe, protect their money, take care of their futures/retirement and many other things.  Whatever you may think, this has caused a lot more people to think outside the system, thinking for their futures, and how to protect themselves.

This event, along with Covid 19 could really be the unforeseen double-whammy that could set off this next bull run.  It’s far too early to know if this will have any effect at all, but it certainly could be a catalyst.

4) Ethereum 2.0 Release

Bitcoin is in the news almost every day, but almost just as often, Ethereum is in the news as well.  Everyday we are hearing about new companies that are planning on building on Ethereum, or partnerships with Ethereum,  Or even portfolio/asset investing companies starting to invest themselves.  Not only that, but the hype for Ethereum 2.0 seems to be really ramping up. 

This is a very important update that will greatly improve the blockchain, and also bring with it Proof of Stake rewards.  People seem to be trying their hardest to reach the full 32 ETH that it takes to take full advantage of the staking.  Ethereum is the second most popular coin by far, and with this update it makes sense that it could be popular enough, exciting enough to cause a frenzy which could kick off the next bull run. 

We just need to worry that the update won’t be delayed until next year, which is very possible.

5) Grayscale Trust

This has been all over the news over the last few weeks.  Greyscale Trust which specializes in investments of digital currencies and assets have been all over the news with the amount of Bitcoin they have been purchasing.  Since the bitcoin halving, they have actually purchased more bitcoin than has been mined, by a large amount.  Grayscale Trust alone did this.  Then you need to take into account all the other companies that are supposedly stocking up, along with people of wealth and then also the normal Joe’s as well who continue to buy.  Right now, bitcoin is very easily available to purchase, but in the near feature, if these companies continue to buy at a high rate, it could be very possible that bitcoin becomes less easy to buy, and at a much higher prices.  When people realize the supply of bitcoin is dwindling at a fast rate, the demand will raise even more, and with that the price will skyrocket to new highs.

I would like to mention that Grayscale Trust has also been heavily investing in Ethereum as well.

These are all things that very well could lead to the beginning of the next bull run.  Some of them being more likely than others, and with many more contributors that I didn't even mention.

What do you think will be the kickstarter to the next bull run? And, are you ready for it?