Bitcoin seems to be heading in a clear direction. After months of heavy losses, the price has risen massively again in recent days and may have left the correction behind. In this article, we present 3 reasons why Bitcoin is now transitioning back into a bull market.
#1 Bitcoin Bull Market: Financial markets are UP
As bitcoin becomes more tied to stock markets through products like bitcoin ETFs, the performance of financial markets has become increasingly important to macro crypto market movements. These financial markets have been showing good numbers again in recent weeks.
The announcements of interest rate hikes by the US Federal Reserve have caused the share prices of the large tech companies to suffer more and more recently. But lately, the figures for the technology sector are looking much better. This also has a positive effect on cryptocurrencies and could fuel the Bitcoin bull market.
#2 Institutional interest is Growing again
In 2021, more and more institutional investors invested in Bitcoin, fueling the bull market. Investors’ interest in buying is becoming increasingly important as prices develop. Luckily, the major institutional investors have been showing renewed interest in the cryptocurrency market over the past few days.
Before that, the big bitcoin addresses, the so-called whales, have been busy accumulating bitcoins. They obviously expected a new Bitcoin bull market. The institutions are looking for more risk again. A prominent example is Microstrategy, which has again bought Bitcoin in large quantities.
#3 Crypto Market Crashes are Ideal for Crypto Shopping!
Many speculative investors had bet on a further drop in bitcoin on the foreign exchange market. Now they had to give up their positions and buy bitcoins again in order not to miss anything in the Bitcoin bull market.
In the past few months, these speculative investors were primarily responsible for the sharp drop in prices, while the hodlers largely held their positions and continued to buy. This shows that the fundamentals for the Bitcoin bull market remain very strong.
The post Buy $BTC Already! 3 Reasons why Bitcoin is going into a bull market again appeared first on CryptoTicker.
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