Cryptocurrency analyst CryptosRUs, in a video released on October 23, discussed key factors that could trigger the next Bitcoin bull market. Notably, he highlighted remarks from BlackRock CEO Larry Fink, who characterized cryptocurrencies such as Bitcoin (BTC) as a “safe haven” in times of global instability.

Analyst CryptosRUs concurred with this viewpoint, asserting that astute investors are increasingly looking to Bitcoin as a safeguard against inflation and diminishing confidence in governmental and central bank policies.

Another potential catalyst highlighted was the possibility of the first-ever Bitcoin spot ETF approval. CryptosRUs suggested that Grayscale’s recent application might gain approval in the coming month, which could open the door for other major asset managers such as BlackRock and Fidelity.

Historically, November and December have shown a propensity for bullish trends in Bitcoin during recovery years, such as 2022. CryptosRUs forecasts a year-end target of $35,000-$40,000 for Bitcoin and envisions a potential surge to $60,000 by November 2024 if historical trends persist.

Furthermore, he presented data indicating that Bitcoin is currently in its accumulation phase, a typical stage within its boom-and-bust cycle. Although short-term volatility is expected, the long-term outlook remains optimistic.

In summary, analysts like CryptosRUs suggest that improving fundamentals, increasing institutional adoption, seasonal trends, and historical precedents all point toward Bitcoin preparing for its next bull run in the upcoming 12-24 months. The regulatory approval of spot ETFs and macroeconomic conditions could expedite this timeline.