Market Analyst Claims We’re on the Cusp of “the Largest Bitcoin Bull Run in History”

Bitcoin’s bull run in the last 6 months of 2017 has become the stuff of legends. However, that bull run could pale in comparison to the bull run we’re about to see – at least according to one major market analyst.

We might just be on the cusp of the largest bitcoin bull run in history.

— Mati Greenspan (@MatiGreenspan) July 23, 2018

Greenspan retweeted several other tweets and replies.

Jury is still out on that one. https://t.co/8LQ1y3iiGs

— Mati Greenspan (@MatiGreenspan) July 23, 2018

Typically, if bitcoin goes up, then alts will follow – even if they don’t experience the same percentage gains.

So far it's not. However, if we do see a massive surge over the next year, all three of these months will be flat on the chart.

— Mati Greenspan (@MatiGreenspan) July 23, 2018

At the time of writing, bitcoin is priced at around $7700. The markets are showing a noticeable increase in volume and displaying a number of bullish signals.

Of course, we’ve been here before: after plummeting below $6,000 earlier in the year, bitcoin bounced back above $9,500 before settling back below $6,000. One strong sell-off could take us back to a bear market.

Nevertheless, Greenspan isn’t alone in believing that this time it’s different. We could legitimately be on the cusp of the largest bitcoin bull run in history. Markets surged last week when it was reported that institutional firms like Blackrock have launched their own crypto research division. Major Wall Street names like Goldman Sachs are getting increasingly involved in the industry. Coinbase just launched an institutional-grade crypto custody service.

Romal Almazo, the cryptocurrency lead at Capco, echoes Greenspan’s bullish stance. Here’s how he explained the upcoming bull market in a statement to Express.co.uk:

“Blackrock really stands out to me as the arrival of institutional money will be a game changer. People need to remember that the crypto market is still less than 1 per cent of the daily volumes of the FX market.”

“Any signs of the big players entering the market will cause huge waves. Though my personal belief is that we are still a few years away from reaching this tipping point, we are in what I would refer to as an exploratory phase when it comes to institutions and crypto.”

In other words, Almazo believes the largest bull run is coming – but it may not occur for several years.

One of the biggest opportunities for growth in the crypto industry is in digital custody and storage. As Almazo explains:

“Right now, as Tier 1 banks and financial institutions explore their options, the two main things that are holding them back are the lack of regulatory oversight and the numerous risks associated with digital custody and storage. This will also mean a huge opportunity for insurers to get into the market and partner with digital custodians and digital storage providers.”

In order for banks to invest in cryptocurrencies, they need a secure storage process with limited risk. Banks aren’t going to risk customer funds in an unsecure exchange, for example. They require institutional-grade regulated crypto custody services – like the service launched by Coinbase last month.

Do you believe bitcoin is on the cusp of the biggest bull run in history? The markets appear to be demonstrating bullish signals as we approach $8,000. However, we’ve been here before, and we’re just one big sell-off away from a sub-$6,000 price – or even a sub $3,000 price.

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