Bitcoin bull run 2019 – The price of bitcoin slid downwards after months of tracking sideways. Even though this may be surprising to newcomers of the space, it’s just a continuation of the usual cycle for the top cryptocurrency. What is for sure is that it will go up again. Below we are going to look at two factors that could act as a catalyst for the next bitcoin bull run.
The SEC approving bitcoin ETFs
The SEC has played hardball on this front disapproving all ETFs that have been sent its way. However, if they were to go ahead and change their stand, approving the ETFs could be monumental.
An Exchange Traded Fund (ETF) represents an asset that can be traded on traditional stock exchanges like shares. They act as derivatives of the underlying asset and allow traders to make purchases based on their assessment of potential price movements of the asset.
If approved, bitcoin ETFs will be available on international exchanges, and it will be easier to integrate them with 401ks, pension funds, and other similar portfolio investment options.
Therefore these ETFs are considered the gateway to institutional money. So if approved they will trigger the next bitcoin bull run.
The launch of Bakkt and the emergence of other institutional futures markets
Earlier this week, Bakkt announced that they were delaying the launch of the highly anticipated bitcoin futures platform. The start is now set for Jan. 24, 2019 and will be a catalyst for significant cash inflows in the crypto market.
Since the platform is part of the ICE, the New York Stock Exchange will be able to list the Bakkt contracts. As a result, this will give the new investment vehicle excellent visibility and liquidity opportunities and could stimulate another Bitcoin bull run.
Do you agree that these two factors will act as a catalyst for the next bitcoin bull run? Share your thoughts in the comment section below.