{"id":2084490,"date":"2023-10-30T17:50:02","date_gmt":"2023-10-30T21:50:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/why-the-bitcoin-bull-run\/"},"modified":"2023-10-30T17:56:16","modified_gmt":"2023-10-30T21:56:16","slug":"why-the-bitcoin-bull-run","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/why-the-bitcoin-bull-run\/","title":{"rendered":"What&#8217;s driving the Bitcoin bull run?"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwhy-the-bitcoin-bull-run%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2084490&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><blockquote>\n<h2>Bitcoin&#8217;s Resurgence: Is the Crypto Winter Coming to an End?<\/h2>\n<p>Bitcoin (BTC) reached its peak of over $65,000 \u200cin November \u200b2021, but \u2064since then, the \u2062cryptocurrency\u2062 market has \u2063been in turmoil. Many alt-coins, riding the wave of \u2064Bitcoin and Ethereum, lost more\u2064 than 90 percent of their value due\u200d to scandals and the collapse of crypto-exchange FTX. Even Bitcoin itself saw a 75 percent \u2063drop in price.<\/p>\n<p>However, there has\u2063 been a noticeable shift in market sentiment\u200b recently. Bitcoin prices have more than doubled from their low of $16,800 in December 2022, currently \u2062standing\u200b above $34,500. This upward trend coincides with\u2062 the trial of \u2064FTX founder Sam Bankman-Fried,\u2062 suggesting a \u200cpossible \u200bconnection.<\/p>\n<p>One explanation for \u2062this change is the Securities and Exchange\u200d Commission \u200c(SEC) \u2063potentially approving Bitcoin and Ethereum exchange-traded funds (ETFs). If this happens, institutional investors and their clients will have easier access to \u200ccrypto, leading \u200cto\u2064 increased demand and higher prices. The narrowing discount\u2064 to net asset value of the Grayscale Bitcoin Trust supports this theory.<\/p>\n<p>Another factor\u2064 contributing\u200c to\u200c Bitcoin&#8217;s\u200b resurgence is geopolitical upheaval, particularly the Israel-Hamas war. The\u2063 fear of global conflict\u200d and the deteriorating U.S. fiscal position are driving interest in Bitcoin as an unorthodox safe haven asset.<\/p>\n<p>Technical factors, such\u2064 as the upcoming halving event in April 2024, which reduces new supply and historically boosts prices, also play a role in \u200dBitcoin&#8217;s appreciation.<\/p>\n<p>While\u200c skepticism\u200d remains regarding \u2062crypto&#8217;s long-term prospects due to regulatory bias, the short to\u2064 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-admits-there-will-be-several-more-months-of-rapid-inflation\/\" title=\"Biden Administration Admits There Will Be \u2018Several More Months Of Rapid Inflation\u2019\">medium term<\/a> looks promising. Bitcoin dominance has increased, indicating a potential shift in the market. As an investor,\u2062 I believe \u2064in the medium-term potential of BTC and GBTC, but I \u200balso recognize the importance of hard and real \u200cassets in \u200dthe face of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/this-is-a-no-manchin-says-he-cant-vote-for-bidens-build-back-better-act\/\" title=\"\u2018This Is A No\u2019: Manchin Says He Can\u2019t Vote For Biden\u2019s Build Back Better Act\">geopolitical uncertainty<\/a>.<\/p>\n<div class=\"my-5\"><em>Views expressed \u200bin this article are\u2064 opinions of\u2062 the\u2064 author and do not necessarily reflect \u2062the views of The Epoch\u200d Times.<\/em><\/div>\n<\/blockquote>\n<h2>Related Stories<\/h2>\n<ul>\n<li>\n    <a href=\"http:\/\/www.theepochtimes.com\/article\/bitcoin-price-spikes-amid-speculation-about-etf-regulatory-approval-5517135?ea_src=author_manual&#038;ea_med=related_stories\"><\/p>\n<h3>Bitcoin Price \u200cSpikes Amid Speculation About ETF Regulatory Approval<\/h3>\n<p>    <\/a><\/p>\n<p>10\/26\/2023<\/p>\n<\/li>\n<li>\n    <a href=\"http:\/\/www.theepochtimes.com\/article\/bitcoin-breaks-above-30000-as-investors-eye-end-of-rate-rises-5186162?ea_src=author_manual&#038;ea_med=related_stories\"><\/p>\n<h3>Bitcoin \u200cBreaks Above $30,000 as Investors \u2062Eye End of Rate \u2062Rises<\/h3>\n<p>    <\/a><\/p>\n<p>4\/11\/2023<\/p>\n<\/li>\n<\/ul>\n<p> <\/p>\n<h2> \u200c How have factors like mainstream acceptance of cryptocurrencies and the gradual recovery \u200dof the \u2064global economy influenced the \u2063resurgence of \u200dBitcoin<\/h2>\n<p><span>  And Exchange\u200b Commission&#8217;s (SEC)\u200d renewed interest \u200din regulating the cryptocurrency market. In \u200bDecember 2021, the SEC filed several lawsuits against prominent figures and companies involved \u2064in the crypto industry, including Ripple Labs Inc., accusing them of conducting unregistered securities offerings. \u2063This <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/why-the-bitcoin-bull-run\/\" title=\"What's driving the Bitcoin bull run?\">heightened regulatory scrutiny brought uncertainty<\/a> into the market and\u200b contributed to the decline in Bitcoin and other\u2063 cryptocurrencies&#8217; \u2064prices.<\/p>\n<p>However, \u200cwith the recent trial of Sam Bankman-Fried, the founder of FTX, the market seems to\u200c be reacting positively. Bankman-Fried is a well-known figure in the cryptocurrency world and \u200dhis trial\u2062 has <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gop-senators-work-to-block-bidens-plans-literally\/\" title=\"GOP senators actively obstruct Biden's plans.\">drawn significant attention<\/a> \u2063from investors and enthusiasts. The trial could potentially bring\u2064 clarity to \u200bthe regulatory landscape and alleviate\u200c some of the concerns that have been weighing\u2064 on the market.<\/p>\n<p>Another factor that may be\u200c contributing to Bitcoin&#8217;s resurgence is the broader acceptance of\u200b cryptocurrencies in mainstream society. Over the past few \u2063months, major companies such as Tesla, PayPal, and Square\u200c have shown\u200c increasing interest in Bitcoin\u200b and started accepting it as a \u2062form of payment. This mainstream adoption\u200d has helped legitimize the cryptocurrency and increase its value.<\/p>\n<p>Furthermore, the gradual recovery of the global economy post-pandemic could also be playing \u200ca\u200c role in Bitcoin&#8217;s resurgence. \u2064As \u2062economies reopen and people regain\u200d confidence in \u200btraditional \u2062financial systems, they may \u2063also feel more confident in investing in cryptocurrencies. Bitcoin, often seen as a hedge against inflation and economic instability,\u2064 may be attracting investors looking to diversify \u200dtheir portfolios and protect their wealth.<\/p>\n<p>It is important to note, however, that the cryptocurrency market is highly volatile and unpredictable. While Bitcoin has shown signs of recovery, it is still far\u200c from\u200b reaching its all-time high. Additionally, regulatory uncertainties and potential market manipulation \u200bcontinue to pose risks \u2064to investors.<\/p>\n<p>In conclusion, the recent uptrend in Bitcoin prices \u2062coupled with the FTX trial suggests that \u200bthe crypto winter may be coming to an end. Factors \u200dsuch as increased \u200cregulatory clarity,\u2064 mainstream adoption, and economic recovery contribute to Bitcoin&#8217;s \u200cresurgence. Nonetheless, investors should\u2064 exercise caution and be aware of the inherent risks associated with \u200dinvesting \u2063in cryptocurrencies. Only time will tell if this upward trend is sustainable or if the market will experience further turbulence in the future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) reached its peak at $65,000 in November 2021, but the cryptocurrency market has since experienced a significant decline. Even Bitcoin, along with other alt-coins, suffered losses of over 90%.<\/p>\n","protected":false},"author":1828,"featured_media":2084491,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2084490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2084490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1828"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2084490"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2084490\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2084491"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2084490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2084490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2084490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}