Banking crisis could spark the first 'extended duration Bitcoin bull market,' says Swan Bitcoin CEO

The latest banking situation could pb to “the first-ever extended duration bull market” for Bitcoin (BTC), according to Swan Bitcoin CEO Cory Klippsten.

In an interrogation with Cointelegraph, Klippsten pointed retired that acold much radical contiguous cognize astir Bitcoin arsenic a instrumentality to opt retired of the accepted fiscal strategy than during the erstwhile banking crisis, which engulfed Cyprus successful 2013. 

That means the adjacent Bitcoin bull could perchance past for 2 to 3 years, alternatively of conscionable a fewer months, thinks Klippsten. 

According to Klippsten, Bitcoin is not threatened by the existent regulatory crackdown successful the United States, which helium sees arsenic a earthy backlash aft last year's FTX collapse. The Bitcoin maximalist supports the Securities and Exchange Commission's presumption connected altcoins — that they should beryllium regulated arsenic securities. “To privation to person information regularisation for thee, but not for me, which is what the altcoin manufacture wants, [..] I deliberation it is conscionable hypocritical,” helium said.

Klippsten welcomed the latest Commodity Futures Trading Commission's suit against Binance, which helium sees arsenic a nett affirmative for Bitcoin. According to Klippsten, centralized exchanges similar Binance person been slowing down the adoption of Bitcoin by promoting altcoins, which helium sees arsenic chiefly "pump and dump schemes.”

“The superior selling enactment of Coinbase and of Binance is to marketplace altcoins [...] Altcoins successful peculiar since 2017 person siphoned distant request from Bitcoin,” helium said.

To larn astir a Bitcoin maximalist’s presumption connected the existent banking situation and the U.S. crackdown connected crypto, cheque retired the afloat interview with Klippsten connected our YouTube channel, and don’t hide to subscribe!