What do you think will be the biggest catalyst for the upcoming bull run?

I am curious as to where the crypto sub thinks that most of the growth in the crypto space and most of the price increase will come as we prepare for the next bull cycle while still in the midst of this crabby bear market, looking forward to green arrows and bags of coins.

What do you think will be the biggest single catalyst, if you were forced to pick a single one, for the adoption, for price growth, and for project development through the next market cycle?

Some of the catalysts that come to mind include big macro shifts like the fed reversing course on rate hikes or the invasion of Ukraine ending or global concern about a recession lessening. Also in this category might be major regulatory frameworks being passed like those that are being discussed in the US house or the EU and somewhat spasmodically, India.

Another huge catalyst that we have approaching is the upcoming halving or halvening of Bitcoin Block rewards early next year. Bull markets have historically followed them with a high degree of correlation and with a pretty repetitive timeline. Quite a few high quality posts demonstrating the close correlation between the halvening and bull cycle peaks can be found with a quick search on the sub.

We also have the possibility for a huge amount of institutional adoption coming via spot ETFs for ETH and BTC, especially now that both have been ruled as commodities by a federal judge here in the US. This will help with driving growth in several ways from the mandates that ETFs actually own the assets they manage which in turn will reduce supply, increase demand, and drive up price for those two assets. It will also allow repeated investments from 401k funds which would allow systematic purchases every two weeks within those funds. Fidelity, being a HUGE 401k provider, having applied for both a spot BTC and a spot ETH is a huge source of readily investable fiat just waiting to be directed to crypto.

Perhaps the biggest factor will be the improved ease of access for mass retail via on-ramps with entities like Coinbase or Fidelity or more trad-fi companies like Paypal or projects partnering with everyone like Polygon is. We know Coinbase is trying to onboard the entire world, is mass producing educational material, as is Metamask, and is even tracking politicians’ stance on crypto. Will this be the biggest factor?

Or will it be a specific use case that drives onboarding like Defi did or like NFTs did last summer or some brand new use case that is still below the radar or just has not picked up sufficient steam yet to have wild adoption? Like web3 gaming if they get around to some worthwhile games. Tokenized real estate is another one that seems to be generating interest lately and I keep hearing more and more about it.

So, which factor do you think will be the biggest catalyst for the next bull run?

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