Hong Fang, CEO of US-based crypto exchange Okcoin, shared three catalysts that could fuel the next crypto market bull run.
Okcoin CEO Hong Fang addressed the shortcomings in existing centralized monetary systems in a new interview with Kitco News. Fang, cryptocurrency He believes that the interest in the market will increase over time and this will be an igniting catalyst.
Not satisfied with this, the CEO predicts that the crypto money strategy followed by El Salvador will also be followed by countries with larger economies.
“From a macro perspective, we continue to see a lot of challenges. I think the World Bank thinks that many countries will not be able to pay their debts next year. This is a major failure of the centralized monetary system.
The need for a stronger coin may go to cryptocurrencies. It is possible that the method followed by El Salvador can be followed by other countries.”
According to Fang, bitcoinThe fact that BTC (BTC) will enter its halving cycle in 2024 and projects developing on the blockchain can also help trigger rising prices for digital assets.
“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 too…
I think the third catalyst could be the created projects. Whenever we had a bull market with Bitcoin, DeFi and NFTs, it was because many project developers continued projects in the last bear market.”
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.