Coinbase Crypto Company Can Ignite A New Bitcoin Bull Run in 2018: Here’s How
It is simply no secret that everybody expected a new Bitcoin bull run to happen in 2018. Only the major critics did not wait a least a little bit that a new bull run would happen. Now, some people are believing that Coinbase could lead a new bull run that would make the price of Bitcoin rise again.
Is this a sensible opinion? Is it just more bullish nonsense as we have seen so often this year?
The Rumors Of A New Bull Run
Many economists and crypto evangelists have decreed that Bitcoin will see its prices rising the future. The most important question now is more “when exactly will this happen”. A recent article shows us how the analyst believes that Coinbase can be at the center of a new crypto revolution.
The analysis of the article is focused on some facts that we will analyze. The first one is related to the listing of two tokens in Coinbase Pro. Both 0x (ZRX) and Basic Attention Token (BAT) were listed in Coinbase Pro recently and these tokens saw an important increase in their prices after this.
ZRX increased 62% while BAT increased its price by 33% after being listed in Coinbase Pro. This, the article affirms, can show that the prices will be affected because of listings.
The company has now affirmed that it will support Bitcoin Cash (BCH) too after its new hard fork on November 15. Speculation points out that the price of BCH will increase after being listed, too.
According to the article, Coinbase excites the investors more than other platforms now and even the upcoming ETF as the trades are actually the ones trading and this affects the prices of tokens.
The whole idea was that more assets are being listed on Coinbase now and this will make the market grow in the quarter. However, funnily, the article does not mention why this would represent a bull run for Bitcoin (BTC) specifically.
Is The New Bull Run Real?
No. The article is, unfortunately, very weak and so is the rumor. It ignores completely how the institutional markets are important and how hyped the ETF is without producing a single proof for why this would actually be the truth.
It also affirms that “institutional investors are not all that important” when they clearly are. Most small players have left the market after the bear market started and the institutional investors are entering like crazy. If you want to predict the next bull run, the ETF is still the best guess.
Unfortunately, though, it is impossible to know for now when this will happen. This is just another prediction in a huge sea of guesswork. Everybody wants so much the new bull run to be real that they are willing to believe anything, so you have to be very careful in order to decide whether you will believe in this or not.
Despite this, most people still believe in the approval of the ETF by the U. S. Securities and Exchange Commission (SEC) in 2019, which might also lead to a new bull run, so we have to say that the chances of the bear market seeing its end in the next two years are very high, we are just not sure of when this will happen.