During Bitcoin bull runs, members of the digital asset space are always excited as new opportunities often come up around that time. Historically, the Bitcoin bull run has been influenced by many factors, which include higher demands and friendlier markets. However, the primary factor behind this new rise would be the institutional investors.
These investors are the deep-pocket buyers that buy in chunks and save for the long-term. Buyers have been buying at an impressive rate, that big exchanges like Coinbase report the lower Bitcoin reserve as buyers hoard a considerable part of it. Besides institutional buyers, other big payment brands have facilitated crypto payment, which has improved adoption and broadened the market as new buyers join the community.
Mainstream companies joining the crypto space
Two top payment companies that have helped the bull runs are PayPal, MasterCard, and Visa. These three mainstream companies have shown interest in the digital asset space and are working towards providing more services to bridge the gap between cash holders and crypto investors. The companies that have grown to be known brands have influenced numerous changes in the global community.
Another set of influencers are the crypto media firm that has worked hard to bring information to the populace. These companies have made access to crypto-related information faster and more convenient. These educators have done a lot to ignite a bull run as people understand what cryptos are.
An executive at The Association of Cryptocurrency Journalists and Researchers, Join Ian Wong, explained that bull runs usually occur when new demand comes into place. The association is a non-governmental body that works towards promoting research and journalism for the Blockchain industry. The co-president explained that Coindesk was established in 2013, after a bull run.
The crypto’s value went from $10 to $100 during the price growth. The journalist revealed that he was working with the crypto media and benefiting from the crypto surge. The executive added that big new firms like the BBC would call and ask who the CEO of Bitcoin was during those times. According to Wong, people were not educated about crypto during that time.
Bull runs have influenced the demand
The journalist explained that bull runs have helped the industry grow stronger as it comes. This contributed to the industry’s expansion within a short period. Many crypto media houses have seen an increase in the number of views on their websites as more people are interested in the industry’s ongoing happenings. Another notable bull run is the one that happened around 2020 and early 2021. Many firms came into existence due to the heavy bull run that lasted many days and took Bitcoin from $20,000 to around $40,000 within some weeks.
Other media houses have sprung forth with the ultimate goal of educating the populace about Blockchain and cryptocurrency. One of those crypto-related media, which came into prominence, was Blockworks, as the spokesman explained that the asset price fall around March was frightening and that the revenue dropped by 80%. This was short-lived as Bitcoin bounced back stronger than ever before it eventually hit more significant highs.
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