Marius Krames is known as uncontested No. 1 writer and influencer on Bitcoin, Cryptocurrencies, Virtual-Currencies, and blockchain on Quora worldwide. He knows how itchy is a question regarding the next bitcoin bull run in cryptomarkets and dares to give you an answer with the arguments and even a definite date.
There is something that is bigger than ETF
Marius stated that ETF is not the biggest thing ongoing to follow. The “real deal” is Bakkt NYSE-backed crypto-platform which is coming later this year. For the record, NYSE (New York Stock Exchange) is the largest stock exchange in the whole world, amassing a total market cap of 23 TRILLION dollars. That is 100x bigger than all of the crypto.
Now, they have decided to open a crypto exchange together with Starbucks and Microsoft including crypto investment products such as 401(k) and possibly credit cards. The NYSE’s Owner Wants to Bring Bitcoin to Your 401(k). Are Crypto Credit Cards Next?
As the big guys are coming and there is one thing that makes all the difference, they will physically back their leveraged trading with Bitcoin. That means, they will need to buy the Bitcoin first from the market, driving up the price.
When will this happen?
According to Mr. Krames, the next bull market will start in late September, throughout October, November while BAKKT buys up lots of Bitcoin and reach its peak in December, January when actual investors buy Crypto-derivatives on Bakkt.
Despite the fact that timing Marius mentioned is quite similar to last year, however, he doesn’t tie the timing of the bull run to the bull run of last year at all, Krames ties it to Bakkt.
With Bakkt being announced, ETFs now also have a much higher chance to be approved now, because the big guys (Microsoft, Starbucks, NYSE) have made their move and politicians approving an ETF will be seen as smart, since the big guys also do it. That’s why the SEC is probably reviewing ETFs again. Follow the herd.
An ETF approval will add extra fuel to the fire.
Institutional money now has a definite date, November (EDITED December 31, 2018: Bakkt postponed to January 24th). This is alongside the very positive sentiment and strong traction among the first coins already with millions of users.
Marius predicts the bull market to start in late September, reaching a Bitcoin price of $20,000 throughout October, November and reach its peak of $50,000-$100,000 in December, January or even $150,000 with a bit of luck. Looking at an average multiple of 17x and a maximum multiple of 40x, this is within the normal range.
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