Bitcoin (BTC) trades at about $6,735 after surging by about 2.60% in the last 24 hours. However, according to the majority of crypto investors, BTC must break above the $6,900 level to keep on rising. But, are we witnessing another Bitcoin (BTC) bull run?
According to the same experts, Bitcoin (BTC) might break above the $6,900 level very soon, and since that is achieved, BTC would surge even more towards $7,500 and then to $8,000. And, more important, the technical analysis of Bitcoin (BTC) charts are matched by the current positive news regarding BTC, in this case.
Therefore, the latest news regarding the Bitcoin (BTC) futures, BlackRock involvement in BTC, and the emergence of institutional investors are all meant to help the leading cryptocurrency in the world by market cap to commence a new bull run.
Bitcoin (BTC) futures
The general sentiment characterizing the cryptocurrency enthusiasts and the Bitcoiners out there is that the US SEC will approve the Bitcoin (BTC) futures trading, recently filed by the CBOE.
And SEC might indeed approve it, following the models already established by more crypto-friendly countries, such as South Korea, Malta, Japan, Thailand, Germany, and Canada, among others.
Many predict that the SEC will approve it in August, triggering a true Bitcoin (BTC) bull run.
The BlackRock ETF trading platform involvement in cryptos and blockchain
Recently, BlackRock, the world’s leading ETFs trader, announced it would like exploring the advantages of the cryptocurrencies market and blockchain technology, and even mentioned Bitcoin (BTC) as their primary point of interest. Thus, BTC price surged by about $400 in less than a day, jumping from about $6,200 to approximately $6,400.
Institutional investors could boost the Bitcoin (BTC) trading volumes
Lately, the institutional investors showed a higher interest in the cryptocurrencies market and, on the other hand, some cryptocurrency-related platforms, such as Coinbase, started to provide specialized platforms for this type of investors who can skyrocket the trading volumes not only for Bitcoin but also for other cryptos.
One good example is the emergence of the Swiss SIX stock exchange into the cryptocurrencies market.
All these pieces of the puzzle, if placed together, yield a considerable opportunity for a new Bitcoin (BTC) bull run.