One of the Forbes analysts believes that the next Bitcoin bull run will be triggered by the Central Banks which will invest in Bitcoin (BTC) as a “Digital Gold”.
This realisation should have already been accomplished at the beginning of the year 2018.
The Next Bitcoin Bull Run Will Be Like Nothing We Have Ever Seen! Stellar Stablecoins | Bitbond STO (Source: Crypto Zombie)
Central Banks have a critical role for Bitcoin
After the best-ever price level of 20,000 USD back in December 2017, all of the altcoins including Bitcoin have been in a declining trend.
During my publishing, the Bitcoin price is slightly below the 3,990 USD as you see on the below chart.
Besides, in a Forbes article, Garrick Hileman who is the leader of a Blockchain.com Research Group, stated that Central Banks would play a significant role at a possible Bitcoin bull run. You may refer to his tweet as mentioned below.
1/ On the subject of central banks owning bitcoin or other cryptoassets https://t.co/UGSvaWE1UV
— Garrick Hileman (@GarrickHileman) March 26, 2019
Are banks a hero for the cryptocurrency market?
Mr Hileman pointed out that if Bitcoin would be named as “Digital Gold“, then there should be a purchaser side.
Garrick Hileman also added that:
Since apart from institutional investors it is global central banks that are eager for gold (digital or physical), then if they decide to stock up on Bitcoin, this may get the BTC price to skyrocket.
Central Banks of the countries regulate global interest rates and print money. Europe’s ECB (European Central Bank) and USA’s FED (Federal Reserve) are the famous examples to these government institutions.
If these Central banks agree on stocking cryptocurrency reserves, then there will be tremendous market demand on digital (crypto) money.
Latest regulations contributed to the cryptocurrencies positively
Garrick Hileman mentions that the market has been demanding for corporate investors and financial companies.
And as none of them has started to purchase these digital assets, investors became suspicious about the future of the crypto market.
For this reason, the experienced authoritative indicates the potential of banks for saving Bitcoin and the altcoins. He even believes that this type of market doping may carry the cryptocurrencies to new highs.
To sum up, the Head of the Blockchain.com Research Group firmly believes that all of the crypto assets are useful for the financial markets.
Last but not least, Hileman has not got any bit of doubt on Bitcoin to become illegal, and he thinks that the regulation will pay off positively.