Hong Fang, CEO of US-based crypto exchange Okcoin, listed three factors that could initiate a possible bull run for Bitcoin (BTC) and the cryptocurrency market.
In a new interview with Hong Fang Kitco News, he stated that the qualities that will address the failures of existing centralized monetary systems will be the igniter of the next bull run. Focusing on three main factors, Fang has a strong interest in the cryptocurrency market. interest will increase over time. expressed.
Firstly, El Salvador and Central African Republic Mentioning that a few countries such as Bitcoin have tested their monetary systems with Bitcoin, Fang said that more countries will join them and that this type of financial system that we are used to will be presented to the financial system. innovative factors He said that it will increase the interest in the crypto sector.
As another factor halving Pointing to the (halving) cycle, Fang points out that these cycles are at the point of price increase. an important catalyst He added that he was.
Bitcoin has a halving cycle. I don’t know if it’s a coincidence that past crypto cycles somehow overlapped with the Bitcoin halving cycle, but that could be another catalyst.
Lastly, Fang, created during the current bear season, quality projects will begin to be noticed by investors and that a growing interest He said he would bring it with him.
Another reason for the past bull market, in my opinion, was what many developers did in the last bear market. Likewise, I think that the quality projects produced now have the potential to trigger another bull market.