There are all kinds of optimistic predicitons about the price of Bitcoin these days, and below you can see the latest one. Here’s what we need in order to see BTC and crypto rally once more, according to the latest reports.
Three catalysts for massive BTC bull run
The chief executive of San Francisco-based crypto exchange Okcoin is addressing three catalysts that could be able to trigger the next crypto market bull run.
A need for sound currency systems
In a new interview with Kitco News, Okcoin CEO Hong Fang says that the rising need for sound currency systems, caused by the failures of current centralized monetary systems, could trigger the next crypto bull market.
Fang says she envisions a country with an economy much larger than El Salvador taking the plunge and adopting crypto eventually:
“I think from a macro perspective, we continue to see challenges out there… I think the World Bank recently came out saying that a dozen countries may default on their own country’s debt next year, which is a failure of a centralized monetary system.”
Fang continued and explained the following:
“I would suspect that the fundamental need for a more sound money will continue to build in the background, something like El Salvador, but maybe of a larger size.”
Halving of BTC
According to Fang, Bitcoin’s (BTC) upcoming halving cycle in 2024 and burgeoning project development on blockchains could also help trigger rising prices for digital assets.
“Bitcoin has its own [halving] cycle. I don’t know if it’s coincidental that the past crypto cycles have somewhat coincided with the Bitcoin [halving] cycle, but that may also be another catalyst…”
Fang talks about real projects as being the third catalyst that could trigger massive BTC and crypto moves upwards.
“I think the third potential catalyst is real projects. Every time we have a bull market with Bitcoin, with DeFi [decentralized finance] and NFTs [non-fungible tokens], that was because a lot of builders, they built projects in the last bear market.”