Growing Legitimacy Will Help Sustain The Next Bitcoin Bull Run
There is going to come a day, and soon, when Bitcoin takes off and will blow people’s minds. Maybe not today, maybe not tomorrow, but soon:
Why Growing Legitimacy Will Help to Sustain The Next Bitcoin Bull Run
Bitcoin’s recent performance is in spite of the deteriorating macro picture. It seems like U.S. election drama, fears of economic collapse, and the on-going panic situation are powerless to bring it down.
Some would argue Bitcoin was designed with such conditions in mind. However, such confidence was not as forthcoming during Black Thursday, or indeed throughout crypto winter.
All the same, with Bitcoin seemingly on a tear at the present time, talk of a sustained golden bull run is doing the rounds.
It’s impossible to know if that will be the case this time. But in defense of that view, it should be noted that things are much better now compared to 2017.
The 2017 bull run was largely the result of speculation, and few institutions were on the scene at that time. Now, the fundamentals and infrastructure are as strong as they have ever been.
And with the nod of approval from the likes of MicroStrategy, Grayscale, and PayPal, to name but a few, it looks as though the stars are lining up for Bitcoin to fulfill Nakamoto’s vision.
The coming months will reveal whether a maturing market, as well as the added legitimacy that institutional money brings, have what it takes to launch a sustained bull run.
With all of these factors converging, only a fool would bet against Bitcoin.