Skyrocketing Price of Bitcoin Leads To The Next Big Bull Run

The world of cryptocurrency is always fascinating with new things as it is still at nascent stage. Bitcoin the most popular cryptocurrency is now taking the internet by storm  because of the surge in the price of Bitcoin this July 2018.

 

The next big bull run

Data Source: Coindesk

The Bitcoin price has reached $8000 mark for the first time after two months, paving way for the next bull run. The current value of Bitcoin is still a long way off its 2017 peak- $2000. Market experts do caution Bitcoin is experiencing a classic financial bubble. At this juncture, the Securities and Exchange Commission (SEC) is expected to approve the Bitcoin ETF(exchange-traded fund). The first Bitcoin EFT approval from SEC could bring a significant boost to the crypto market. Bitcoin’s market capitalization dominance has also improved significantly.

 

Google Trends

Bitcoin ETF is trending now on Google due to the massive bullishness of the Bitcoin. The search term “Bitcoin EFT” is showing a steady uptrend in the United States and Worldwide. This clearly shows that people are eagerly waiting for the ETF approval from the SEC. Many crypto enthusiasts stated that Bitcoin would become the currency of the future.

 

Bottomline

Market analyst, Mati Greenspan, stated that “We might just be on the cusp of the largest bitcoin bull run in history”.

The future of Bitcoin looks bright and the price hike of the Bitcoin will cause huge waves in the crypto market in short term as it seems due to ETFs and Institutional Money taking Bitcoin seriously.

 

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