According to Sumit Gupta, cofounder and CEO of Mumbai-based crypto exchange CoinDCX, the Bitcoin bull run can be primarily attributed to the cryptocurrency being the preferred choice for new investors and having strong fundamentals
Another reason for the Bitcoin bull run was the third halving for the cryptocurrency in May this year
According to Monark Modi, founder and CEO of Bitex, the Bitcoin bull run is being caused due to increasing investment from institutional investors, investment banks and more importantly payment companies.
The Bitcoin bull run is real! It has now stretched on for 112 days, according to industry watchers. But unlike the stock market, where the fluctuations in prices of stocks are directly influenced by events happening around the world, the reasons for a cryptocurrency’s bull run aren’t easily decipherable.
This is because cryptocurrencies operate independently of the traditional financial system. Hence, events that shape the day for the stock market…