Important experts of the cryptocurrency market have explained 3 important factors that can start the bull season for Bitcoin (BTC).
Cryptocurrency market horizontal And a calm consolidation market analysts as able to ignite the bull season factor of 3 he discussed. Bitcoin as three factors that can trigger a bull Safer than other cryptocurrencies to be seen, weakening of the dollar and leading asset manager BlackRock’s Bitcoin ETF application marked.
In the expert comments compiled by Coindesk, although in the current conditions, especially US-based regulatory pressures even though it comes up macroeconomic your terms It is stated that he is ready for the Bitcoin bull.
Especially from the BlackRock front recently. ETF application news about the market water of life it happened. The US regulatory agency Approving the ETF or to refuse 240 days exists. This schedule Bitcoin halving crossing with , strengthens the possibility of uptrend.
Ken Odeluga, author of CF Benchmark, commented on the meaning and importance of this ETF presented by BlackRock:
With its latest proposed ETF, BlackRock reveals that investor demand for Bitcoin is broad enough to support a mainstream Bitcoin product that is traded, regulated, presented in convenient and familiar packaging.
CEO of cryptocurrency management firm Blofin Matt Hu in a blog post, US regulators specifically targeting altcoins when specifying Binance And coinbase reminded that Bitcoin was not mentioned in his lawsuits:
Regulatory risk is mainly focused on altcoin investors, which only has a limited impact on those who hold BTC and ETH. However, as a result of the SEC lawsuit, all altcoins can be considered securities and may need to be regulated according to securities standards. This means that altcoin trading will be more offshore and decentralized.
FED’s recent calm and constructive policies have also positive for bitcoin it has meaning. According to the Fed’s statement, this year at most 2 times More rate hikes are expected. crypto analytics firm Jarvis Labs In a recent blog post, he made the following statements on the subject:
Any drop in the dollar is good for bitcoin. Therefore, BTC and risk assets experienced their strongest bull runs during the DXY bear markets. With the Fed pausing rate hikes this week (plus inflation cooling), it looks like the dollar’s days above 100 may be numbered.
With this dollar index (DXY) weakening over the past weeks and expectations 100 points and lowered to level six likewise the flow of money It may result in a shift to high-yield products such as Bitcoin. Generally the decline of DXY bitcoin And Nasdaq It has been a sign of a rise in markets such as