Bitcoin vs Dogecoin: Who is Going to Win the Next Bull Run?
The speed of the cryptocurrency market growth is quite surprising. What’s more, investors and traders have already gotten used to it as a new financial market. More and more people are getting interested in cryptocurrencies because some newly introduced projects offer incredible returns and possibilities to their users.
Nevertheless, we should keep in mind that virtual currencies are extremely volatile and it’s not quite easy to find cryptocurrencies to invest in. Today, we will review two of the most frequently-discussed coins – Dogecoin vs Bitcoin. When will they start their bull runs, and which one will become a better investment?
The next bull run of Bitcoin
It’s difficult to predict which cryptocurrency will win the next bull run because we don’t know when this bull run will take place exactly. The market of virtual currencies is extremely volatile, and there are too many factors that can impact the prices of coins.
Cryptocurrency experts have different considerations regarding the next bull run of Bitcoin. Some of the forecasts, driven by technical analyses, predict that the new bull run of BTC should start in 2024. It will be caused by the next halving of Bitcoin. Halving is when the reward for mining is cut in half. So, the 2024 halving is supposed to reduce the number of circulating coins and trigger the next increase in demand for Bitcoin.
According to experts, bullish trends won’t occur at the beginning of 2024. Experts predict that this run will start in May, meaning Bitcoin investors won’t need to wait until the end of 2024. If this comes true, it will be great for those users who invest in Bitcoin these days, during its prolonged bearish run.
Nevertheless, we cannot predict the next bull run exactly because some experts don’t agree that bullish trends will occur in the same year with halving. Some of them are sure that investors will need to wait one more year – until 2025. Such conclusions are based on the previous history of Bitcoin. Since 2012, each new halving has been followed by the growth of the coin’s value throughout the year.
We can see that this theory might be true by taking a look at a simple example. The last halving of Bitcoin took place in 2020. In 2021, its most successful bullish run started, during which the price of the cryptocurrency showed an impressive performance and surged from $28,000, at the beginning of 2021, to its all-time high of $68,789.63 in November.
During its next bull run, Bitcoin is expected to beat its price record and exceed $100,000.
DOGE price prediction
In 2022, Dogecoin (DOGE) lost over 60% of its value. This trend was common for other cryptocurrencies as well but in the case of DOGE, its declining movement started in May 2021. Since then, it has lost 90% of its value. Considering such devaluation, we can estimate that Dogecoin is about to start its bullish run. But the predictions on this matter are quite different.
As of the date of writing this review, the DOGE price is around $0.060. According to some technical analysis, its bullish run will start no later than 2025 and its price will reach around $0.23. Other analysts aren’t as optimistic. Although they expect the bull run to occur in 2025 as well, they estimate that its price will be almost twice lower than in the previous forecast – $0.13.
When reading comparison reviews of Bitcoin and Dogecoin, keep in mind that both cryptocurrencies are extremely volatile and dependable on different factors. It’s almost impossible to make an accurate prediction of the token’s price during the following bullish trend. These estimates rely on technical and historical data but they don’t consider many additional factors that can impact the coins’ prices in the future.
- Even if you choose the most stable cryptocurrencies to invest in, you can lose your funds because of the extreme volatility of the crypto market.
- Dogecoin isn’t considered a financial asset because it has endless supply capitalization.
- A limited supply of BTC coins can potentially lead to their scarcity.
- Although Dogecoin was created as a parody of Bitcoin, it’s capable to execute around 33 transactions per second, while Bitcoin’s network can cope with 7 transactions per second.
- Bitcoin’s value can fluctuate by thousands of dollars per day.
Whatever cryptocurrency you choose to invest in, you should realize that investing always involves risks. Do your own research on Bitcoin and Dogecoin and try to assess our estimates objectively.
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