Bitcoin started the year at around $16,500 and experienced a 60% bounce back, but its price has been stuck between $25,000 and $30,000.

Investors have faced industry bankruptcies, low trading volume, regulatory crackdowns, and the closure of crypto-friendly banks.

The potential approval of Bitcoin ETFs, led by BlackRock, could significantly impact the market and drive up prices.

The upcoming Bitcoin halving event in 2024, along with regulatory advancements globally, are seen as potential catalysts for a bull run.

Bitcoin's price has been affected by rising interest rates and the need for risk allocation in portfolios.

Analysts suggest that increased liquidity, large investor involvement, foreign central banks accumulating Bitcoin, or signs of a market meltdown could trigger the next bull run.

Despite recent challenges, some experts believe Bitcoin is in the early stages of a positive price cycle, with potential for significant growth.

Bitcoin investors have faced a challenging year with various obstacles, including regulatory crackdowns and banking challenges.

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