As the first cryptocurrency, and the largest by market capitalization, the Bitcoin price is often the first to move. Other cryptocurrencies are typically tied to the Bitcoin price, as the correlation between Web3 tokens is still strong.
So, when will the next crypto bull market return, and what effect might it have on new projects like Metacade?
Is online gaming ready to explode again?
The bull market often causes many cryptocurrencies to gain value, with new all-time highs being reached across the crypto markets. The previous bull market of 2021 saw online gaming platforms increase in value to become some of the leading projects in the world of Web3.
Decentraland (MANA), The Sandbox (SAND), and Axie Infinity (AXS) each rose by over 200x during the 2021 bull market. It was kickstarted by Bitcoin price movements, with other cryptos following the price after large investors rotated into other blockchain projects.
The next crypto bull market is expected to occur between 2024 and 2025, as the Bitcoin halving event will take place in March 2024. The timing could not be better for new online gaming projects such as Metacade, which has seen major investment during its crypto presale.
Market cycles in the crypto world
The Bitcoin price typically follows a 4-year cycle that coincides with its halving events. The Bitcoin blockchain uses a proof-of-work consensus mechanism, where the number of BTC mined by nodes is halved every 210,000 blocks – approximately every four years.
This is the foundation for market cycles in crypto: As BTC becomes increasingly scarce, bull markets occur; as Bitcoin becomes overextended, a bear market pulls the price of Bitcoin back to parity.
In 2012, 2016, and 2020, the halving events kickstarted explosive bull runs in which the Bitcoin price made new all-time highs. Major pullbacks, such as the one seen in 2022, brought the Bitcoin price and most of the market back to more moderate prices.
Can MCADE reach $5 in 2025?
For new online gaming cryptocurrencies such as Metacade, the next bull market could produce over 100x returns. The MCADE presale is rapidly selling out at each stage, as the new online gaming project is already proving popular.
MCADE is gearing up for exciting price action over the coming years. In 2023, experts are predicting that MCADE will reach $1 in value. This is because the token will be launched on exchanges after the presale, and the Metacade platform will begin to roll out its comprehensive online gaming…