Crypto News

What Is Driving The Crypto Bull Run? eToro CEO Has A Few Ideas

crypto bull run

Long Beach (CoinChapter): The cryptocurrency market is in the midst of a massive bull run that has seen increased institutional investment. This is one of the longest bull runs for crypto, but what exactly is driving it isn’t quite clear. eToro CEO Yoni Assia has thoughts on the potential factors as he revealed in a recent interview with Cointelegraph.

“I think there is a confluence of circumstances that’s leading for this all-time high, both in crypto, as well in the stock markets. We’re seeing unprecedented monetary and fiscal sort of reactions from federal governments all around the world leading to zero interest rates, and even negative interest rates in some places.”

A bull run of this magnitude is sure to draw comparisons to the 2017 run. But this run looks to have more room for upside. One metric that suggests this is the Long Term Holder MVRV. It currently sits at 10, which is half of the 2017 level. Since there is room for upward growth on the charts right now, the price is likely to cross its ATH again and go on a discovery run.

The Current Crypto Bull Run Began in March 2020

This bull run began around a year ago following Bitcoin’s drop to below $4,000 in March of 2020. Since then, the crypto market has exploded with Bitcoin reaching a milestone of more than $60,000. eToro CEO Yoni Assia brought up the amount of money being printed around the world as a factor in this as well.

“We’re seeing an unprecedented amount of money being printed by governments all around the world. Some of them in a very unique and new concept of direct stimulus checks to consumers,” Assia said. “That has definitely raised the biggest discussion in human history about the value of money, a discussion that started very passionately within the crypto space.”

Among other factors mentioned by eToro CEO Yoni Assia were the network’s inherent scarcity. Bitcoin has a maximum supply of 21 million coins, though not all have been distributed yet. Eventually there will be no more coins entering circulation. He also noted that crypto and stock purchases are now more globally available to retail buyers. This could lead to mass scale involvement from people who may not previously have participated.

The 2017 cycle relied more on supply and demand metrics on spot exchanges. There was a steady increase of Bitcoin supply on exchanges with a price rise. But there hasn’t been a dramatic increase in supply or the price level of this current run. As such, there seems to be a lot more to this bull run.

How useful was this post?

Click on a star to rate it!

Corey Hansford CoinChapter
Corey Hansford

Corey has been involved in media and writing since graduating from the illustrious Howard University with a degree in Broadcast Journalism. While relatively new to the cryptocurrency world, he has been writing since 2012 with most contributions coming in the sports world on websites such as and Corey is also an avid sports fan who closely follows the Lakers, Cowboys, Dodgers, WWE, and UFC.

Related "Cryptocurrency" News

Coinbase Beats Crypto-Friendly Intercontinental Exchange In Wall Street Debut
Coinbase Global Inc. delivered an $86 billion valuation in its trading debut on Wall Street, beating bigger and older...
Exodus Raises Nearly $60 Million In Public Offering
Los Angeles (CoinChapter) – Crypto wallet provider Exodus raised just under $60 million from investors in a successful regulated...
Coinbase (COIN) Stock Receives Reference Price Of $250
Los Angeles (CoinChapter) – Major United States-based crypto exchange Coinbase (COIN) has received a reference price of just $250...
Filecoin Hardfork Upgrade To Be Supported By Binance
Los Angeles (CoinChapter) – Major cryptocurrency exchange Binance announced that it will support the activation of the Filecoin (FIL)...
Kraken Considering Going Public In a 2022 IPO Motivated By Record Volume
Long Beach (CoinChapter): Crypto exchange Kraken is considering going public through a direct listing in 2022. The decision is...
Bank Of Thailand To Pilot CBDC In 2022
Los Angeles (CoinChapter) – The Bank of Thailand revealed plans to begin tests on a retail central bank digital...