<\/p>\n
Celebrities hocking nonfungible tokens (NFTs), big-budget crypto ads, and mainstream brands adopting crypto slang \u2014 these are the signs to watch for during the next bull market that could indicate a peak, according to crypto analysts.<\/p>\n
The crypto industry is expected to see a\u00a0major rally in 2024. In the past 90 days alone, Bitcoin (BTC) has surged to clock in a 74% price increase. Some analysts expect the next Bitcoin all-time high to come in late 2024.\u00a0<\/p>\n
But are there ways to indicate when the next bull market peak will come? Analysts think there is.<\/p>\n
Crypto education platform Collective Shift founder Ben Simpson told Cointelegraph that \u201cwhen everyone is seemingly making money\u201d is one of his first indicators that the crypto market might be nearing the top.<\/p>\n
He says during these times, people he would never expect to will start to talk about crypto, along with how they\u2019re trading it and making money.<\/p>\n
\u201cWhenever I start seeing supercars, houses and Rolexes, I\u2019m like: \u2018This might be getting a bit toppy.\u2019\u201d<\/p><\/blockquote>\n
Another of his indicators from the last bull cycle was when crypto exchanges such as FTX and Crypto.com were flushed with cash they \u201cdon\u2019t even know what to do with\u201d and splashed on pricey marketing blitzes that saw them take over sports stadiums\u2019 naming rights and Super Bowl ad spots.<\/p>\n
\nView from my condo in Miami, they seem to be dismantling the sign on the FTX Arena! pic.twitter.com\/3gaHimxEwy<\/a><\/p>\n
\u2014 Shiv (@shivnull) November 11, 2022<\/a><\/p><\/blockquote>\n
Crypto-related music \u2014 such as the 2022 viral song by Randi Zuckerberg, sister of Meta CEO Mark Zuckerberg \u2014 was \u201cone of those things in hindsight, [where] you just go: \u2018Are we actually living in a bubble right now?\u2019\u201d Simpson said.<\/p>\n
\nFucking hell. “Carpe your crypto diem” https:\/\/t.co\/ZrTKLPjLLs<\/p>\n
\u2014 Jake Hanrahan (@Jake_Hanrahan) March 4, 2022<\/a><\/p><\/blockquote>\n
Meanwhile, software engineer and crypto critic Molly White told Cointelegraph the celebrity endorsement of crypto and NFT projects was, for her, \u201ca huge top signal.\u201d<\/p>\n
In particular, White pointed to the slew of stars who had NFTs as their social media profile pictures, Kim Kardashian shilling EthereumMAX \u2014 who was later fined $1.26 million for her promotion of the crypto \u2014 and former teen heartthrob Justin Bieber forking over $1.3 million for a Bored Ape Yacht Club NFT.<\/p>\n
Paris Hilton and Jimmy Fallon\u2019s shilling their Bored Ape NFTs on The Tonight Show<\/em> was also a major top signal for White.<\/p>\n
\nJimmy & @ParisHilton<\/a> compare #BoredApeYC<\/a> NFTs. #FallonTonight<\/a> pic.twitter.com\/RoOlhteLnN<\/a><\/p>\n