Investing.com – It seems that the days of unstoppable rallies have come to a sudden and unexpected end. Many experts and investors agree: there will be no further BTC bull run. This grim prediction reflects the current sentiment dominating the cryptocurrency market.
At the beginning of the year, there was a palpable euphoria in the air. Meme-coins were touted as the next big opportunity, with predictions that some coins had the potential to increase their value fiftyfold. Today, however, amid a general pessimism, even moderate forecasts, such as a fivefold increase in prices, appear to be downright wishful thinking.
The extreme fluctuations in market sentiment are not new in the crypto-universe. This emotionality, which accompanies Bitcoin and other cryptocurrencies, drives prices to both breathtaking highs and dizzying lows. Crypto investors regularly experience highs followed by subsequent crashes.
Although the current market situation seems grim, there are still positive developments to be noted. The acceptance of cryptocurrencies is progressing inexorably, which is an indicator of the potential and longevity of these digital assets. A striking example of this is the Zürcher Kantonalbank (ZKB).
The ZKB, one of the largest financial institutions in Switzerland, now offers its clients the ability to trade, store, and hold Bitcoin and through their existing mobile apps and e-banking channels.
This service was introduced on September 4 in collaboration with Crypto Finance, a FINMA-regulated institution. The ZKB’s decision shows that despite extreme market sentiment and predictions about the end of bull runs, a significant movement towards mainstream acceptance of cryptocurrencies is underway.
The wide acceptance of cryptocurrencies in Switzerland fits well with the overall climate in the country, which is characterized by a positive attitude towards digital assets. Even the Swiss National Bank holds an indirect Bitcoin position, as it owns shares in MicroStrategy Incorporated (NASDAQ:), the largest BTC holder in the stock market.
In conclusion, it can be said that regardless of the current market turmoil and pessimistic forecasts, the movements and real progress within the financial world speak for a long-term stability of this sector. Whether there will ever be another massive bull run remains to be seen, but the fact that more and more traditional financial institutions are integrating cryptocurrencies suggests a brighter future and genuine long-term acceptance.
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Source: Cryptocurrency - investing.com
