Crypto Bull Run Incoming: Expert Outlines Top 5 Reasons Why Crypto Market Is On The Rise
The post Crypto Bull Run Incoming: Expert Outlines Top 5 Reasons Why Crypto Market Is On The Rise appeared first on Coinpedia Fintech News
According to cryptocurrency analyst Nathan Sloan, the crypto market may be heading toward a big bull run. Despite the market experiencing a “hellish crypto winter,” recent developments indicate a positive future for cryptocurrencies.
Past Bull Markets and Crypto Winters
Nathan’s analysis shows that bull markets and crypto winters of the past are all in one chart. The chart highlights the middle days leading up to the next halving event, which is about one year away. Nathan claims that this chart clearly shows that crypto has the potential to air-pick bull markets, which investors have been eagerly waiting for. However, Nathan warns that even in the last cycle, the market still experienced downturns, even as it approached the next halving event.
Recent Developments
Nathan outlines five significant developments in the crypto industry that suggest an increasing institutional interest in cryptocurrencies:
German securities processing giant, D W P bank, launched WP Next, a new platform that will allow over 1200 German banks to offer Bitcoin trading to retail customers.
The second-biggest stock exchange in Germany has received a license for crypto custody, which will benefit banks, brokers, asset managers, and family offices.
Microsoft is developing a built-in Ethereum crypto wallet, which will drive innovation in the industry.
The NASDAQ plans to enable crypto custody by Q2 of this year.
Fidelity is expanding its crypto offerings to retail customers.
Nathan believes that these developments are significant and indicate that the crypto industry is gaining traction and institutional support.
Also Read: Here’s Why Policymakers Have Been Reluctant To Regulate Cryptocurrency – Coinpedia Fintech News
Conclusion
While the crypto market may be heading towards a big bull run, investors should be prepared for any possible downturns in the current cycle. Nathan’s analysis shows that past bull markets and crypto winters have been followed by downturns even as the market approached the next halving event. However, recent developments in the industry suggest a positive future for cryptocurrencies, and institutional interest in the asset class is growing.
Filed under: Bitcoin - @ April 4, 2023 10:07 am