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Bitcoin Has Bottomed and Enters a New Bull Run
Bitcoin, the world’s largest cryptocurrency, has experienced a significant turnaround, according to Michael Saylor, the CEO of MicroStrategy. Saylor believes that the price of bitcoin has bottomed out and a new bull run has begun. In addition to this optimistic outlook, Saylor also points out that upcoming crypto regulations will favor bitcoin and help it maintain its dominance in the market. This article will delve into Saylor’s insights and explore the factors contributing to this newfound bullish sentiment, including bitcoin’s halving and the impact of the Ordinals protocol.
Bitcoin’s Bottom and the Start of a Bull Run
Michael Saylor, the co-founder of MicroStrategy, is confident that bitcoin’s price has reached its bottom and the cryptocurrency is now poised for a new bull run. Saylor attributes this positive outlook to several key factors. Firstly, bitcoin’s halving event, which occurred in May 2020, has reduced the rate at which new bitcoins are created. This event has historically been associated with price increases and has instilled a sense of scarcity in the market.
Secondly, Saylor highlights the increasing adoption of bitcoin by individuals, institutions, and even governments. As more entities recognize the potential of bitcoin as a store of value and a hedge against…
