Bitcoin‘s recent 30% surge has sparked speculation of a “golden cross” in the cryptocurrency market, indicating further growth. According to Raj Chowdhury, CEO of PayBito, the increase is due to several factors, including growing institutional adoption, increasing retail interest, and the limited supply of bitcoin.
Chowdhury sees the rise of bitcoin as a validation of the potential of blockchain technology amid the ongoing digital revolution. He emphasized PayBito’s mission to democratize access to cryptocurrencies, facilitated by its white-label crypto broker platform. This platform is part of PayBito’s global crypto solutions suite, which has been implemented in 26 countries, including the US.
In addition to these developments, there are indications of a greater likelihood of future bitcoin ETF approvals. In particular, Grayscale Investments has reconsidered its bitcoin trust ETF filing and BlackRock (NYSE:BLK) has updated its own bitcoin ETF filing. These actions were identified by Chowdhury as influential factors contributing to the speculative “golden cross” in the crypto market.
