Degen

The cryptocurrency market has experienced several notable bull runs, each driven by different factors. The first major surge occurred in 2011 when Bitcoin's price rose from around $1 to $32. The next significant rally took place in 2013, with Bitcoin reaching $1,200 in November. 

The most well-known bull run occurred in 2017, when Bitcoin hit an all-time high of nearly $20,000, spurred by ICOs and mainstream media attention. After a bear market, a new bull run began in 2020, fueled by institutional adoption, inflation fears, and the rise of DeFi and NFTs, peaking with Bitcoin at $69,000 in November 2021. 

As of 2023-2024, the market is experiencing another recovery, driven by increasing institutional involvement, blockchain innovations, and the emergence of AI-related crypto projects. Each cycle is marked by rapid price gains followed by corrections, with retail and institutional investors playing key roles in fueling these market shifts.