Bitcoin continues to inspire bullish trends as it has broken through the important resistance at $7,500 an ounce and moves towards $8,000 an ounce. In fact, a senior analyst believes that Bitcoin “may be on the threshold of the biggest Bitcoin bull run in history.
eToro’s lead market analyst about Bitcoin profit
Bitcoin profit has been rising for days and managed to overcome the important $7,500 resistance. Indicators suggest that Bitcoin profit could continue to rise, although the past has shown that it doesn’t take much to initiate a trend change. A strong sell-off could still push Bitcoin slightly towards $5,000. However, eToro’s senior market analyst believes the biggest bull run is about to start by tweeting the following via Twitter:
We may be on the threshold of the biggest Bitcoin Bull Run in history.
Game Changer proven by onlinebetrug
The recent trend change followed a series of positive news by onlinebetrug. More and more traditional investors and institutions enter the crypto market (Blackrock), the infrastructure around Bitcoin is improved by technical progress like SegWit and Lightning and by solutions like onlinebetrug Coinbase Custody.
Romal Almazo, Cryptocurrency Lead at Capco, said in an interview to Express.co.uk that Tier 1 banks and financial institutions are beginning to weigh their options against the crypto currency market.
I really notice Blackrock, because the arrival of institutional money will change the game. It should not be forgotten that the crypto market still accounts for less than 1 percent of the daily volume of the foreign exchange market.
Any signs of big players entering the market will create big waves. Although I personally believe that we are still a few years away from reaching this turning point, we are in what I would call a research phase when it comes to institutions and crypto.
However, no one should expect institutional investors to get involved in a timely manner. There are still some obstacles, but the infrastructure is already under construction.
Before banks invest in crypto currency, they need a secure storage process with low settlement risk. We are still far from offering the usual level of quality assurance facilities such as Blackrock. However, this is likely to change as the technology develops.
We recently reported that Barry Silbert feels that we have reached the low point. A major bull signal will be the Bitcoin ETF decision, which the entire crypto currency market eagerly awaits.