Here Are 3 Potential Scenarios That Trigger the Next Crypto Rally

Here Are 3 Potential Scenarios That Trigger the Next Crypto Rally

The cryptocurrency market now has two high-profile lawsuits as the Grayscale-SEC dispute begins; the other is the XRP case.

It has long been argued that the XRP lawsuit could decide the fate of the entire cryptocurrency market. Interestingly, both cases are in the final stages, with the XRP community awaiting a summary decision, while Grayscale is awaiting a decision on its spot ETF application as early as the second half of 2023.

Here are the events that will trigger a cryptocurrency bull run

Against the backdrop of a stressful 2022 for the cryptocurrency ecosystem, the Silvergate liquidity crisis is the first major setback for 2023. So much so that the recent market rally was not enough to spur a Bitcoin (BTC) price recovery.

Here Are 3 Potential Scenarios That Trigger the Next Crypto Rally

However, three outcomes in the coming months could trigger the start of the next cryptocurrency bull run. Ripple’s victory over the SEC and the subsequent relisting of XRP on a US exchange could be a major positive event for the market.

Likewise, if Grayscale’s GBTC spot bitcoin ETF application goes ahead to be approved, it would represent a significant regulatory validation for the ecosystem.

Another bullish event could be the end of the war in Ukraine, which could bring some comfort to the broader market. Therefore, if any of these possibilities hold true, Bitcoin (BTC) price will have an opportunity to test a key resistance level. While it’s a bit of an exaggeration now, the Bitcoin halving in 2024 could also have a huge impact on cryptocurrency prices.

Source of information: Compiled from KOINBOX by 0x Information.Copyright belongs to the author Dilara Avcıoğlu, without permission, may not be reproduced

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