Crypto Bull Runs: What You Need To Know (Full Guide 2025)

Crypto Bull Runs Lead to Skyrocketing Prices, Increasing Retail Adoption

In both stock and cryptocurrency markets, the terms bull market and bear market describe extended periods of price movements:

• Bull Market: A crypto bull market is a sustained period when cryptocurrency prices rise. This trend is characterized by strong demand and weak supply, leading to increased investor confidence and optimism. Investors, anticipating further gains, are more inclined to buy, further driving prices up.
• Bear Market: A bear market is a prolonged phase where cryptocurrency prices decline. In this scenario, supply exceeds demand, resulting in decreased investor confidence and a pessimistic outlook. Investors may sell off assets to prevent further losses, which can perpetuate the downward trend.

Understanding these market phases is crucial for investors aiming to navigate the inherent volatility of the crypto landscape. 

In this comprehensive guide, we’ll discuss how to navigate the next crypto bull run (and the next bear market, a short history of crypto bull runs, whether we’re in a bull run now, and analyst predictions about how the next one will play out. 

How to Navigate a Crypto Bull Run 

Below, we’ll share a few key tips on how to effectively navigate a crypto bull run:

Due Diligence

During bull markets, things can get exciting fast– but that excitement can cause you to lose your shirt! To invest in promising cryptocurrencies with long-term potential, look at the fundamentals. 

Fundamental metrics to consider include the number of (and growth of) wallet addresses, overall transaction volume, Total Value Locked (TVL) in DeFi dApps, NFT adoption (if relevant), and annual inflation rate. You can also look at social signals like the project’s popularity on X and Discord or Telegram groups. 

Diversification

During a bull market, consider spreading your crypto investments into blue chip crypto assets like Bitcoin and ETH, as well as a variety of promising altcoins. Investors can buffer against significant losses if one investment underperforms by not concentrating holdings in a single asset. So, consider having no more than 5% of your crypto portfolio in any one altcoin (exceptions could be made for larger cryptos like $SOL). 

In addition, if your net worth is now significantly concentrated in cryptocurrency, you might want to sell some of your crypto to invest in safer, more traditional assets like S&P 500 index funds, blue-chip stocks, or cash and cash equivalents, like short-term U.S. Treasury Bonds or bank CDs. Since crypto is a volatile asset, it might be wise to avoid holding more than 10-20% of your net worth in digital assets (this number is likely much less if you are older or retired). 

Focus on Security

Focusing on crypto security is key for for both bull markets and bear markets, but when people make a lot of money in crypto– which most often happens in bull markets, they tend to get careless. Unfortunately, this can lead to major financial losses if your exchange goes under (like FTX did), your wallet is hacked or you lose your wallet keys. 

Ultimately, it’s up to you to decide where you feel your crypto is most safe. Centralized exchanges require the least level of responsibility on your part, but they do have risks, as crypto isn’t an insured asset (unlike publicly traded stocks, bonds, and bank account balances, which, in the U.S., are generally government-insured). 

On the other end of the spectrum, holding your crypto in a hardware wallet is technically the most secure, but if you lose your wallet or keys, you could be in major trouble. Therefore it could be a good idea to split your crypto between a regulated and publicly-traded centralized exchange like Coinbase and a hardware wallet stored in a secure location, like a safe or bank safety deposit box. 

How to Navigate a Crypto Bear Market

Just like navigating a bull run, surviving (and thriving) through a crypto bear market requires strategic planning and disciplined execution. Here are some key strategies investors might consider:

Dollar-Cost Averaging (DCA)

While it might seem like you want to give up on investing in crypto when the market has crashed, this is the best time to invest– especially in blue-chip cryptos like Bitcoin and Ethereum, as well as promising newer projects that could be selling at a fraction of their actual value. 

Dollar Cost Averaging (DCA), which entails investing a fixed amount regularly (such as $500/month), regardless of market conditions, can help mitigate the impact of volatility. This approach allows investors to purchase more assets when prices are low and fewer when prices are high, ideally lowering the average cost per unit over time.

Maintain Composure

Emotional decision-making during crypto market downturns can lead to impulsive actions like panic selling. It’s crucial to stay calm, adhere to a well-thought-out investment plan, and avoid reacting hastily to market fluctuations. However, a bear market can reveal that some assets have little to no long-term value, especially if the project has been a rug pull or scam. In these cases, it might be best to cut your losses, even if an asset you bought is only trading at a fraction of the 

Short Selling

For highly experienced traders, short selling offers a way to profit from declining prices. This involves borrowing a cryptocurrency and selling it at the current market price, intending to repurchase it later at a lower price to return to the lender, thus netting the difference as profit. We should note that most active crypto traders (as opposed to long-term investors) typically lose money, so this strategy isn’t for beginners. 

Set Limit and Stop-Loss Orders

Implementing limit buy orders allows investors to purchase assets at desired lower prices. In contrast, stop-loss orders can automatically sell holdings to prevent further losses if prices fall below a predetermined threshold.

Continuous Learning

Bear markets provide an opportunity to research and understand the fundamentals of various cryptocurrencies. Staying informed about market trends, technological developments, and regulatory changes can position investors for informed decision-making. 

By employing these strategies, investors can better navigate the challenges of a crypto bear market and position themselves for potential gains when conditions improve.

A History of Crypto and Bitcoin Bull Runs

Crypto market cap, Mar. 27, 2025. Source: CoinMarketCap.

While there have been many fluctuations in the crypto markets since Bitcoin was launched in 2008, most analysts would say there have been only four major bull runs in crypto history. 

Bull Run #1: 

Duration: Early 2013 to December 2013

Crypto Price Movement: Bitcoin’s price surged from approximately $13 in January 2013 to over $1,000 by December 2013, marking a gain of over 7,500%.

Market Catalysts: This rally was fueled by growing media attention, increased adoption, and economic instability in regions like Cyprus, where banking crises led investors to seek alternative assets.

Aftermath and Decline: The bull run ended with the collapse of the Mt. Gox exchange in early 2014, leading to a significant decline in Bitcoin’s price and a prolonged bear market.

Bull Run #2: 

Duration: Early 2017 to Early 2018 

Crypto Price Movement: Bitcoin’s price escalated from around $1,000 at the beginning of the year to nearly $20,000 by year’s end, representing a 1,900% increase.

Market Catalysts: The surge was driven by the Initial Coin Offering (ICO) boom, heightened media coverage, and a significant influx of retail investors.

Aftermath and Decline: However, by April 2018, things had returned to earth quite a bit, and the market had declined to a $226 billion market cap. By February 2019, the bear market had bottomed out, and the crypto market cap sat at just over $123 billion, a decline of around 85% in just 13 months. 

Bull Run #3:

Duration: Early 2020 to Late 2021 

Price Movement: Bitcoin’s price increased from around $8,000 in early 2020 to over $64,000 by April 2021, a gain of approximately 700%.

Catalysts: This period saw significant institutional adoption, with companies like MicroStrategy and Tesla investing in Bitcoin. The narrative of Bitcoin as “digital gold” and a hedge against inflation gained traction during the COVID-19 pandemic.

Aftermath and Decline: The market faced a correction after the peak, with Bitcoin’s price retracing before stabilizing and setting the stage for future movements.

Bull Run #4: 

Duration: January 2024 to Today? 

Price Movement: Bitcoin’s price surpassed the $100,000 mark for the first time in December 2024, achieving a new all-time high.

Catalysts: The approval of spot Bitcoin ETFs by the U.S. Securities and Exchange Commission in January 2024 led to substantial inflows from institutional investors. A pro-crypto political environment following the U.S. elections also contributed to positive market sentiment.

Aftermath: As of early 2025, the market remains active, with investors closely monitoring regulatory developments and macroeconomic factors to assess the sustainability of the bull run.

The Next Crypto Bull Run: Are We There Yet? 

At the current moment, due to the ups and downs of crypto over the last few months, it’s unclear whether we’re still in a bull run that hasn’t finished yet or if we’ll be waiting months or even years to see another crypto price explosion. 

Below, we’ll review some of the factors that could indicate we’re still experiencing a bull run (positive influences) as well as some factors that might indicate that we’re actually in a well-disguised bear market (negative influences). 

Positive Influences

U.S. Strategic Crypto Reserve Initiatives

On the national level, President Donald Trump announced his intention to create a strategic crypto reserve, which initially seemed bullish, as many investors thought that the U.S. government could engage in significant Bitcoin purchases. However, things turned slightly bearish when President Trump announced that the initial reserve would (at least initially) only consist of Bitcoin and other cryptocurrencies already owned by the U.S. government.

In addition, multiple U.S. states are exploring establishing their own Bitcoin reserves to hedge against economic uncertainties and capitalize on the asset’s appreciation, however, in most cases, states have either voted against or pushed back these resolutions.

Corporate Adoption

Software company Microstrategy, which recently rebranded as ‘Strategy,’ has significantly increased its Bitcoin holdings, now possessing 478,740 BTC, worth more than $45 billion as of early February 2025. Despite posting a recent quarterly loss, Strategy plans to invest $42 billion in Bitcoin over the next three years under its “21/21 Plan.”

While companies like Microsoft have yet to invest in Bitcoin, shareholder proposals indicate growing interest. Therefore, future successful proposals could further legitimize and boost cryptocurrency adoption.

Bitcoin and Crypto ETFs

As previously mentioned, the approval of spot Bitcoin ETFs by the U.S. Securities and Exchange Commission in January 2024 has lead to a flurry of new crypto ETF applications. In fact, as of late January 2025, there were 45 active crypto ETF applications for a variety of crypto assets, including Bitcoin, Ether, Hedera, TRUMP, Solana, Litecoin, and XRP. 

Crypto ETFs will likely lead to significantly more buying pressure on major crypto assets like Bitcoin, as this makes it significantly easier for people to get exposure to crypto through retirement accounts like IRAs and 401(k)s. It can also make it easier for institutional investors like pension funds, mutual funds, and university endowments to get exposure to crypto. 

Political and Regulatory Shifts 

Overall, the new Presidential administration appears to be significantly more crypto-friendly than the last two administrations. In particular, the appointment of David Sacks as the new AI and crypto czar under President Trump signals a pro-crypto stance at the federal level. 

In fact, President Trump has claimed that he wants the U.S. to the the “crypto capital of the planet,” which sends a strong signal that the second Trump administration will advocate for regulations that make it easier for people to buy, sell, trade, and create cryptocurrencies. 

In addition, the crypto industry’s massive round of political donations during the 2024 election cycle can’t be overlooked. The crypto industry raised a record $245 million in political contributions during the 2024 cycle, making it, by far, the largest sector by donations. 

While we don’t yet know how these unprecedented contributions will impact policy, the more than 50 candidates who received contributions from the digital assets industry are likely to be friendly to pro-crypto laws and regulations, which could mean that our current bull run is actually just getting started. 

Bitcoin Halving

Bitcoin halving is a pre-programmed event that occurs approximately every four years, reducing the block reward given to miners by 50%. This mechanism controls Bitcoin’s supply, making it scarcer over time. Since Bitcoin has a maximum supply of 21 million coins, halvings play a crucial role in its long-term value appreciation by decreasing the rate at which new Bitcoin enters circulation. 

Each halving has historically been a significant catalyst for the next crypto bull run, triggering massive price surges due to supply shocks and increased demand. For example, after the 2012 halving, BTC soared from $12 to over $1,100 within a year. The next halving, in 2016, pushed Bitcoin from $650 to nearly $20,000 in late 2017, and the 2020 halving set the stage for Bitcoin’s then-all-time high of $69,000 in 2021 as institutional adoption skyrocketed.

The most recent halving was in April 2024 and reduced mining rewards from 6.25 BTC to 3.125 BTC per block. While Bitcoin’s price has soared to new all-time highs since April 2024, historical trends suggest that Bitcoin reaches new highs 12-18 months post-halving. If this trend continues, we could theoretically see a new all-time high for Bitcoin occur between April and October 2025. 

Negative Influences

Tariff Impacts

President Trump’s recent imposition of tariffs on imports from Canada, Mexico, and China has introduced market volatility. These tariffs have led to a stronger U.S. dollar and heightened inflation concerns, which can negatively affect risk-on assets like Bitcoin. However, it’s also possible that these tariff-related economic shocks are temporary, as new trade deals may be worked out, reducing tensions. On a longer time horizon, tariffs may strengthen the U.S. job market, possibly leading to improved wages and economic growth, which could increase crypto prices, but those impacts could be years away. 

Interest Rates 

High interest rates can suppress the prices of riskier assets, including cryptocurrencies. The Federal Reserve’s recent decision to maintain interest rates and persistent inflation could lead to depressed crypto prices.

Increasing Stock Market Correlation 

Bitcoin has shown an increasing correlation with traditional financial markets, including equity indexes like the S&P 500. Therefore, economic downturns or stock market corrections could spill over into the crypto market, potentially shortening the bull run. 

Historical backtesting shows that when using stand-in assets for Bitcoin and the S&P 500 (specifically GBTC, or Grayscale Bitcoin Trust, and SPY, or the SPDR S&P 500 ETF Trust), the annualized correlation between these two assets was 0.41 in 2021, but had grown to 0.68 by 2024. While past correlations can’t predict future price movements, it can be expected that the U.S. stock market and the crypto market, led by Bitcoin, will generally move in the same direction in the coming years. 

Analyst Predictions for the Next Crypto Bull Run 

Below, we’ll provide a few predictions from well-known analysts discussing the possibility and potential price action for the next crypto bull run. 

Pomp Investments (Anthony Pompliano)

Anthony Pompliano, a prominent cryptocurrency analyst and founder of Pomp Investments, maintains a bullish outlook on Bitcoin’s price trajectory. 

In a December 2024 interview, he emphasized that “2025 will continue to be a great year for Bitcoin,” attributing this optimism to ongoing global monetary expansion and anticipated interest rate cuts by the Federal Reserve. In addition, he believes that the increasing M2 money supply and cheaper capital from lower interest rates will likely fuel market gains. 

However, unlike most analysts, he didn’t offer a specific price target for Bitcoin in 2025. 

Galaxy Digital 

Alex Thorn, Head of Firmwide Research at Galaxy Digital, a major crypto asset management firm, recently forecasted that Bitcoin’s price will exceed $150,000 in the first half of 2025 and potentially reach $185,000 by year-end.

Bernstein Analysts 

Bernstein Analysts have set a price target of $200,000 for Bitcoin by the end of 2025, citing factors such as institutional adoption and favorable market conditions.

Fundstrat Global Advisors (Tom Lee) 

Tom Lee, a CNBC analyst and Head of Research at Fundstrat Global Advisors, has set a target of $250,000 for Bitcoin for year-end 2025. 

VanEck

In a mid-December report, Matthew Sigel of VanEck, a major Bitcoin and gold ETF issuer, forecasted a potential price of $180,000 for Bitcoin by year-end 2025. 

Key Statistics Across Crypto Bull Runs

Average Duration: Bull runs have typically lasted between 12 to 18 months.

Average Price Increase: Bitcoin has experienced gains ranging from 700% to over 7,500% during these periods. 

Post-Bull Run Corrections: Following peak prices, corrections have ranged from 70% to 84%, underscoring the market’s volatility. 

FAQs

1. How long does a crypto bull run last?

Crypto bull runs typically last 12-18 months, followed by a bear market correction.

2. What are the best coins to buy before the next bull run?

While we can’t offer investing advice, Bitcoin (BTC) is generally considered the safest and most established cryptocurrency. However, ETH and other altcoins have more significant growth potential, though, unlike many other crypto assets, ETH has not yet regained or exceeded its all-time high of $4,721 in late 2021. 

3. Will the 2024 Bitcoin halving trigger a bull run?

Historically, every Bitcoin halving has led to a bull run within 12-18 months. The 2024 bull run was already massive, but if the 12-18-month trend continues, the crypto market could reach a new all-time high between April and October 2025. 

4. Can altcoins outperform Bitcoin in the next bull run?

Many smaller projects see exponential gains during altcoin season, but they are riskier than Bitcoin, and many once-promising cryptocurrencies have fallen by 90%+, never to recover.

5. Should I invest now or wait for the next crypto bull run?

Investing in crypto is a personal choice, and no one can predict the future. However, due to information from historical backtesting, many experts suggest the best strategy is to dollar-cost average (DCA) into quality digital assets like Bitcoin and other promising cryptocurrencies, regardless of market conditions or current prices. 

6. What is the safest way to store crypto for the long term?

In general, the safest way to store crypto is to use a hardware wallet like Ledger or Trezor and enable multi-factor authentication for added security. If you take this route, you’ll want to store the wallet in a safe place like a bank safety deposit box or a home safe, and you’ll want to place multiple backups of your recovery phrase in similarly safe locations. 

While this is technically the safest way to store your crypto, it also comes with many personal responsibilities. If your hardware wallet is stolen or you forget your password or recovery phrase, your crypto is likely gone forever. 

Therefore, it may be ideal to put some of your crypto on a trusted exchange or get exposure to crypto through crypto ETFs, which can be purchased in a traditional brokerage account from a company like Charles Schwab or Fidelity. 

Remember, none of the above is investment advice, and you shouldn’t place any money into cryptocurrency investments that you can’t afford to lose!