Strategy founder Michael Saylor stated that a new bull run has begun in the Bitcoin (BTC) market, adding that the current bull market is still in its early stages. Saylor expressed his expectation that the Bitcoin price will rise above the $100,000 level again.
In an interview with Bloomberg, Saylor noted that Bitcoin had recovered and risen by 25% after falling slightly below its 200-week moving average. He argued that this movement indicated Bitcoin had exited a downtrend and entered a new uptrend phase.
According to Saylor, Bitcoin finding support from long-term technical indicators is a key element in the market recovery. The Strategy founder believes that recent price movements represent the beginning of a new bull market.
Saylor also touched upon factors that could support Bitcoin’s future rise, particularly highlighting the adoption process of the cryptocurrency ecosystem by banks.
Saylor stated that wider adoption of Bitcoin by the banking sector and the proliferation of tokenized securities could trigger the next strong price increase.
Tokenized securities stand out as products that enable traditional financial assets, such as stocks and bonds, to be represented on the blockchain through digital tokens.
According to Saylor, the integration of these technologies with the traditional financial system is among the developments that could increase institutional interest in Bitcoin and the blockchain ecosystem.
The founder of Strategy, while assessing the current market outlook, reiterated his expectation that Bitcoin will rise back above $100,000.
However, Saylor’s statements reflect his personal market predictions. Whether Bitcoin will continue its upward trend remains dependent on institutional demand, global liquidity conditions, and overall market dynamics.
*This is not investment advice.
Continue Reading: Strategy Founder Michael Saylor Explains the Bitcoin Bull Market Has Only Just Begun