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Why the bull market is just getting started in 2025

Is the Bull Market Really Over? | Crypto Enthusiasts Share Divided Opinions

By

Dmitry Ivanov

Nov 21, 2025, 04:08 PM

Edited By

Omar Khan

3 minutes reading time

A graph showing an upward trend in cryptocurrency prices, representing continued growth in the bull market.
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A heated debate is brewing among crypto enthusiasts regarding the current state of the market amid predictions of its future trajectory. As 2025 progresses and economic uncertainty lingers, opinions on whether the bull market is over vary widely.

Market Sentiment: A Mixed Bag

The prevailing sentiment in the crypto community suggests that we might not be at the end of the bull market. Several factors contribute to this perspective:

  1. Lack of Euphoria

Past market peaks in 2013, 2017, and 2021 were characterized by mass excitementโ€”retail traders jumping in, memes going viral, and cryptocurrencies skyrocketing. Currently, many observers feel that this level of enthusiasm is absent. As one commentator noted, "Every bull run will be more boring than the previous one."

  1. Historical Timing

Historically, Bitcoin has peaked 12 to 20 months post-halving. Given the last halving was in April 2024, analysts are predicting potential peaks between late 2025 and early 2026. This timing could indicate that the market is still in a growth phase, rather than at the end of an upward trajectory. An observer asserted, "Bitcoin historically peaks 12-18 months after the halving."

  1. Expanding Global Liquidity

Steady liquidity injections from various countries are boosting the market. Recent data indicates that around $1 trillion is being injected into global economies every three months. This increase typically impacts crypto markets with a delay of 6 to 12 months, suggesting we may see continued bullish trends into 2026.

"We are NOT at the top, this is a mid-cycle shakeout that looks scary but structurally healthy," observed a long-time market analyst.

Commentary from the Community

While some commentators support the notion that the bull market is ongoing, others argue that the lack of retail interest and economic struggles are serious red flags.

  • Economic Concerns: "None of that matters if the economy can't get going. Thereโ€™s no euphoria because we havenโ€™t gone anywhere," said one commenter, pointing to broader economic issues.

  • Skepticism About New Heights: Another individual remarked, "Past performance is not indicative of future results." This skepticism reflects a broader concern about potential diminishing returns in future cycles.

Overall, there's a blend of optimism and caution in the community, leaving many to wonder: whatโ€™s next for Bitcoin and the broader crypto market?

Key Insights

  • โšก Many echo the sentiment that previous market mania levels aren't present this time.

  • ๐Ÿ—๏ธ The historical timeline points towards late 2025 to early 2026 as a potential peak period.

  • ๐Ÿ’ฐ Liquidity in the economy continues to expand, promoting a favorable environment for growth.

As the crypto market navigates through uncertain waters, the conversation about its future remains vibrant, with many ready to hold on and see how it unfolds.

What Could Be on the Horizon for Crypto?

As we look ahead in 2025, thereโ€™s a strong chance that Bitcoin could approach its peak between late 2025 and early 2026. Factors contributing to this potential surge include the historical patterns of Bitcoin following halving events, which have typically resulted in significant gains within 12 to 20 months. Experts estimate that if the current economic liquidity trends continue, we could see further strong growth, with probabilities around 60% for the market to climb higher. However, economic challenges and a lack of retail enthusiasm might temper this upward momentum, introducing a level of unpredictability. Thus, the landscape remains a blend of cautious optimism and looming skepticism as many keep a close watch on Bitcoin's next moves.

A Fresh Take on Market Dynamics

Consider the evolution of the vinyl record market as a parallel to the current crypto scenario. In the early 2000s, vinyl was deemed obsolete, overshadowed by digital music. Yet, it saw a remarkable resurgence, driven by nostalgia and a niche appreciation for its warmth and quality. Similarly, todayโ€™s crypto market carries echoes of past exuberance while facing skepticism. Just as vinyl redefined its relevance, so too does the crypto sector stand poised for a comeback, leveraging technological advancements and changing sentiments. What if Bitcoin, much like vinyl, becomes a sought-after collectible in a world increasingly yearning for unique experiences?