Tony Edwards from Thinking Crypto had an interview with cryptocurrency expert David from TheNextBlock. They discussed the possibility of a bull run in the cryptocurrency market in spite of the regulatory challenges faced by major exchanges.
Tony asserted that this upcoming period could be the “mother of all crypto bull markets” and referred to the historical data that supports his optimism. He pointed to Bitcoin’s quick bounce back from its lows in March 2020 as an indication of possible substantial gains for Bitcoin and other altcoins.
David then highlighted an event at Bittrex, which preceded a substantial market surge. He suggested caution and urged users to withdraw funds from platforms such as Bittrex, which recently announced its closure.
The discussion shifted to the SEC’s actions against Kraken and David criticized their approach, commenting that it has become repetitive. He commended Kraken for resisting the legal challenges and speculated on the possibility of Kraken partnering with Coinbase in light of their similar legal issues.
Referencing a Bloomberg report, David noted that Bitcoin has usually seen an average 22% increase in the 60 days following a golden cross. He stated, however, that the current economic conditions are different from 2020 and 2021, as central banks are raising interest rates to tackle inflation. Such economic changes could have an impact on different assets, including cryptocurrencies, by altering the investor behavior and market state.
At the time of writing, Bitcoin is trading at $37,900, increasing more than 2 percent in the last 24 hours. This recent rise is increasing the anticipation among investors and experts alike for the future of the cryptocurrency market.
