THE CRYPTOCURRENCY BULL RUN

By rising 86 percent from the start of the year, Bitcoin has outperformed predictions in 2023, attracting institutional investment and creating concerns about how long this second Rally May will last. The chance of the subsequent Bitcoin ETF exists, and it might result in another Bull Run. The CEO of BlackRock is now even more bullish about the general state of Bitcoin, which is more good news for us. This is due to the fact that he underlined Bitcoin's significance and potential as a digitalized form of gold while also describing it as an international asset. This is an analogy that is frequently used to describe Bitcoin in simple terms. Fink thinks that a Bitcoin ETF might democratize finance, offer investors a different asset class, and act as a hedge against inflation. This is a theory that we used to push much further back when it first came out, but we discovered throughout this recession that it hasn't actually happened.

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The timing of Larry Fink's pro-bitcoin remarks and BlackRock's recent reapplication for a Bitcoin ETF that is presently being reviewed seems a little coincidence. Will the year 2023 see the introduction of the Bitcoin ETF? The availability of surveillance sharing agreements is one of the primary criteria for the SEC's approval of a Bitcoin ETF, according to Coindesk, which went ahead and had a very thorough write-up on it. These agreements are made in an effort to prevent market manipulation and maintain the integrity of the underlying assets for the ETF. Because it operates as a regulated Bitcoin market and has a sizable enough trading volume to process a large portion of the orders, Coinbase has been cited as a prospective partner for various ETF applications.

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The article also emphasizes the SEC's position on the development of a Bitcoin market that is regulated. In contrast to earlier statements by the SEC, spot Bitcoin markets are not currently governed. However, some papers currently make the case that the SEC's standards shouldn't be too strict given the Bitcoin futures markets. Just because so many different businesses, banks, and significant organizations are entering the market and applying for the ETF makes me feel a little bullish.

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During a Twitter space session earlier this week, Binance CEO CZ also provided his prediction for the upcoming Bitcoin Bullrun. The price of Bitcoin has traditionally fluctuated in four-year Bull cycles, according to CZ, and his best guess was that this will continue to be the case. CZ further stressed that the anticipated Bitcoin event, which is scheduled to occur in 2024, will be declared to begin the subsequent bull market beginning in 2025. Even though he is the owner of one of the largest Exchanges, Matrix Port, a provider of cryptocurrency services, expects that Bitcoin would rally to a price of up to $125,000 per coin by the end of 2024. Based on past evidence, they predict that Bitcoin will enter these multi-month bull markets after concluding that a bear market has ended and hitting a new 12-month high.

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