Banking crisis could spark the first ‘extended duration Bitcoin bull market,’ says Swan Bitcoin CEO
According to Cory Klippsten, CEO of Swan Bitcoin, the next BTC bull market will outlast the previous on account of the current banking catastropheThe recent banking crisis could lead to a “first long bull market” for Bitcoin.
In a talk withh Cointelegrap, Klippsten
“said that a lot of individuals today are aware of Bitcoin as a gadget for opting out of the traditional financial system compared to the previous banking catastrophe that targeted Cyprus in the year of 2013.“
Meaning Klippsten Believes that the upcoming bull will be lasting 2 to 3 years rather ran just a few months.
According to him
Bitcoin is not frightened by the present regulatory action in the US, which he sees as a natural response after the previous year’s FTX crash.
The Bitcoin Maximalist brace the SEC’s view on altcoins – that they should be module as securities. “To want to have. certainty directive for you, but not for me, which is what the altcoin industry is looking for, … In my opinion, it is just hypocrisy.
According to Clipston
He welcomed the latest legal action by the CFTC and Binance, which he sees as favorable for Bitcoin centralized exchanges like Binance have slowed Bitcoin acceptance by promoting altcoins, which he sees as basically “pump and dump schemes.
Additionally, he said The main trading activity of Coinbase and Binance is to sell altcoins Altcoins in particular since 2017 have been siphoned away in demand from Bitcoin.
Cryptocurrency exchanges like Coinbase and Binance facilitate the buying and selling of various digital currencies, including altcoins. Altcoins are also cryptocurrencies— other than Bitcoin, for example, ETH, XRP, Litecoin, and so on. In recent years, altcoins have gained popularity among investors and traders who seek to diversify their portfolios and take advantage of potentially higher returns than Bitcoin.
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