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The Impact of Stablecoin Issuance on Bitcoin's Next Bull Run

Aug 15, 2024
  1. Stablecoin Issuance: A Trigger for the Next Wave?
  2. Crypto and External Factors: A Precarious Balance
  3. Analysts' Expectations About the Bull Run

The recent changes have led to volatility in the cryptocurrency market, and Bitcoin is struggling to regain its former glory. However, a new prediction on the increase in stablecoin issuance could change the game.

Stablecoin Issuance: A Trigger for the Next Wave?

In recent days, stablecoin issuance has surged, increasing by $1.533 billion in just three days. Tether and Circle have injected no less than $2.8 billion with the hope of revitalizing the crypto market.

Crypto and External Factors: A Precarious Balance

The growth of the cryptocurrency market depends not only on the injection of billions but also on other factors like the macroeconomic context and the decisions of the US Federal Reserve. Markus Thielen points out that despite the surge in stablecoin issuance, Bitcoin has not managed to break through the resistance level of $60,000-$61,000.

Analysts' Expectations About the Bull Run

Since April, analysts have noted that the bull run is taking its time. They estimate that it will take about 160 days after the Bitcoin halving for this to happen.

In conclusion, while stablecoins play a key role, the market remains cautious, and only time and patience will aid investors in this volatile world of cryptocurrencies.

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