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Unprecedented crypto bull run on the horizon: analyst

unprecedented-crypto-bull-run-on-the-horizon-analyst
Edited by
Markets
Unprecedented crypto bull run on the horizon: analyst

A popular YouTube crypto analyst known as Crypto Banter is predicting the biggest crypto bull run yet in the coming months.

In a video posted on Nov. 22, 2023, the analyst laid out his case for why the crypto market is on the cusp of entering a new era of growth and institutional adoption.

The catalyst, he argues, was the high-profile legal troubles facing major exchanges like Binance and FTX. While painful in the short-term, the analyst views the regulatory crackdown as cleansing the crypto industry of bad actors and clearing the path for more mainstream participation.

With Binance paying fines and FTX declaring bankruptcy, the analyst believes crypto has sacrificed key players to usher in a more compliant and transparent landscape. He specifically highlighted the resignation of Binance CEO Changpeng Zhao as symbolic of crypto transitioning leadership styles — from renegade rule-breakers willing to take risks to more conservative and regulatory-friendly executives.

The analyst expects this will pave the way for the approval of a spot Bitcoin (BTC) ETF in the US, which he predicts could happen in the next 49 days. An ETF — he predicts — would trigger huge institutional inflows, setting up what he calls the biggest bull run yet. He cites growing options market activity, increased Grayscale Bitcoin Trust (GBTC) interest, and improving sentiment from Wall Street banks as evidence the herd is coming.

In terms of price action, the analyst is extremely bullish on the horizon for 2023. He says now is the time for investors to prepare and accumulate positions, predicting massive returns in the next era of the crypto growth story. While admitting uncertainties like the Mt. Gox repayment still linger, he believes the risk/reward outlook is overwhelmingly positive from current levels.