5 Events That Could Put An End To The Current Crypto Bear Market

Much to the chagrin of cryptocurrency investors across the ecosystem, the bear market has officially set in and brought with it devastating price collapses that have left relatively few unscathed.

As the popular topic of conversation now centers on bearish predictions of how low Bitcoin (BTC) will go and how long this iteration of the crypto winter will last, those with more experience on the matter know that it’s virtually impossible to predict the bottom and it would be wise to apply those energies elsewhere.

Instead of focusing on the when of the end, perhaps it’s more constructive to explore what events might help pull the market out of the bear market depths and put it on a path to its next up cycle.

Here’s a look at five potential catalysts that could pull the crypto market out of its current malaise.

A successful Ethereum merge

One of the most highly anticipated developments of the past five years has been the ongoing transition of the Ethereum network from proof-of-work to proof-of-stake.

While the process has been a drawn-out one that has faced numerous setbacks, the official switch is now closer than ever following the successful completion of the Merge trial on the public test network Sepolia.

Another big day for Ethereum as Sepolia testnet merges succesfully with the beacon chain!

Sepolia = Merged✅

Goerli = next

And then… Mainnet!

The Merge is coming

— Metis (@MetisDAO) July 6, 2022

It’s possible that the building hype around the Ethereum Merge could help pull the crypto market out of its bearish state should the transition go off without a hitch, especially if it helps lead to more scalability and a faster user experience. As it stands right now, the Merge is set to take place in August 2022.

It should be noted that a successful Merge could also lead to a “buy the rumor, sell the news” type of event where prices briefly pump due to the euphoria of crypto holders, only to fall back down once the dire state of the global financial system comes back to the forefront.

Approval of a spot Bitcoin ETF

Another event that has been rumored for years that could spark a crypto revival is the passage of a spot Bitcoin exchange-traded fund (ETF) for United States markets.

Ever since 2017, when the first BTC ETF proposed by the Winklevoss twins was denied by the U.S. Securities and Exchange Commission (SEC), there has been one rejection after another for any physically-backed Bitcoin ETF proposal put forward.