The bull season is when crypto prices skyrocket; crypto traders and investors profit from the assets in their portfolios, and investors who have lost a substantial amount of their assets to the bear market can smile with hopes that they will break even and even make some profit.
The increase in optimism and positive market sentiments results in significant buying activity and overall excellent market behavior with a high chance of profit.
Following a bearish 2022 and a pretty stagnant 2023, the last quarter of the year is rounding up strongly, indicating a new bullish run.
Given this strong price rise, the upcoming Bitcoin halving in April 2024, and the existence of several blockchain solutions that make development much easier, how do you, like other crypto investors, prepare for the bull run to take advantage and position yourself for massive returns?
Keep reading as we explore top tips to position yourself for opportunities in a bull market!
What is a Crypto Bull Run?
A crypto bull run is a period in the market cycle with a persistent upward trend in cryptocurrency values. Accompanied by an increase in buyer optimism and positive market sentiments, the bullish run is usually marked by high buying activity and overall good market behavior. It’s not uncommon to see many cryptocurrencies experiencing new all-time high prices, attracting new enthusiasts and further strengthening the high buying market activity.
Until about a month ago, 2023 was quite a stagnant year for crypto. Bitcoin, the index cryptocurrency, started the year at $16k per BTC and consolidated between the $25k and $30k regions for 7 months, between March and October ending, before it slowly started pumping in November and breaking the $40k resistance in December 2023 for the first time since April 2022.
All of these have created positive market sentiment in favor of a new crypto bull run in 2024, and investors are getting ready to throw in money in expectation of huge gains.
However, so you don’t get left out in the cold, here are some things you should know in preparation for a new bull market.
Explore Different Blockchain Protocols
Diversify your understanding of blockchain protocols, solving various issues on different chains. Each blockchain offers unique opportunities for profit. Familiarize yourself with their operations, the top-performing coins, use cases, and growth potential. This knowledge will aid you in categorizing your portfolio based on the best-performing chains with projects poised for significant returns during the bull run.
Additionally, you should consider the community support and developer activity associated with each blockchain, as these factors can influence the success of projects.
Engage in Crypto Airdrops
As you enhance your market knowledge, position yourself for the bull run by participating in legitimate crypto airdrops. Airdrops, which are promotional events for new or existing cryptocurrency projects, can provide you with free cryptocurrency, often in the form of low-cap tokens with potential value during an uptrend.
However, it is important that you research and prioritize airdrops from projects with solid fundamentals and potential for future growth. Also, proper research helps to ensure that your airdrops are from reputable sources, helping you to steer clear of scams
Stay Informed About Market Trends
Actively monitor market trends by staying updated on developments. Join crypto communities to gain firsthand knowledge and analyze the market for informed decision-making during bullish phases.
Also, leverage social media platforms like Twitter and Discord to gauge community sentiments and emerging trends
Lastly, ensure to utilize technical analysis to study charts, identify past trends, and predict future price movements when the bull run commences.
Develop A Well-Defined Investment Strategy
Develop a well-defined investment strategy to align with your goals, preferred cryptocurrencies, investment duration, and risk tolerance.
This strategy should encompass budget allocation, exit plans, and risk management techniques. It ensures capitalization on the bull run while safeguarding profits during market corrections.
P.S: You should regularly reassess and adapt your strategy based on market conditions, as the crypto market is volatile and not paying attention could adversely affect your personal financial goals.
Choose A Reputable Crypto Wallet
No matter how much profit you make in the bullish run, it’s as good as nothing if your wallet is compromised. So, safeguarding your investments by choosing a recognized and secure crypto wallet cannot be overemphasized.
Whether custodial or non-custodial, the wallet should align with your familiarity and control preferences. You should opt for a wallet that supports multi-signature functionality to enhance protection against unauthorized access and potential fraud.
While security is paramount, a user-friendly interface is also crucial for a positive wallet experience. So, choose a wallet with an intuitive and accessible interface that simplifies the management of your assets without compromising their security.
Cwallet - The Best Crypto Wallet To Safeguard Your Assets
Cwallet is a unique multi-functional wallet that combines centralized and decentralized capabilities in a single app, so whether you prefer custodial or non-custodial wallets, you can enjoy both from within a single app, switching with just a single tap.
Cwallet lets you quickly deposit, withdraw, and swap 800+ cryptocurrencies without charging any transaction fees, so you can easily execute cross-chain and on-chain swaps for free all within your wallet’s interface.
Also, Cwallet's price charts are updated in real-time, allowing you to receive real-time updates on your investments and other cryptocurrencies in your wallet.
Lastly, Cwallet prioritizes security by integrating Two-Factor Authentication (2FA) to safeguard your account against unauthorized access as well as Multi-Party Computation (MPC) encryption, a cutting-edge cryptographic technique that enables multiple parties to compute a function without revealing their inputs. This means that even if a hacker breaches one security layer, they cannot access your private keys or compromise your wallet.
So, why delay?
Download the Cwallet App today and get in early for the 2024 bullish run!