This Catalyst Makes Sure To Boost Bitcoin

There is an important catalyst out there that will make sure to boost Bitcoin, according to the latest reports. At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $30,433.

It’s been just revealed the fact that the Ava Labs president John Wu is saying that there’s renewed optimism and energy in the crypto ecosystem as the markets witness rising prices.

The president of the Avalanche (AVAX) development firm says in a new Bloomberg interview that the banking crisis, which saw the likes of Silicon Valley Bank (SVB) collapse, reinvigorated market participants in the crypto space.

“The excitement inside the ecosystem of crypto has been reinvigorated. Most of this price rally, people don’t realize, happened right after SVB.”

The notes continued and revealed the following:

“It was a reminder to the crypto-native people as to why they got into this space originally – the mistrust they have for large institutions.

That’s why Bitcoin became very popular after 2008. And because of that reminder, I think it reinvigorated the crypto-native community.”

It’s also important to mention some details regarding whether there are new participants entering the ecosystem.

Wu says that the uptick in crypto prices is largely driven by the crypto community. According to the Ava Labs president, new entrants still have to dip their toes into the crypto markets.

A popular crypto analyst thinks historical patterns suggest Bitcoin (BTC) could be on the verge of a huge breakout.

In a new YouTube video, the anonymous host of InvestAnswers made sure to address a chart from crypto market intelligence firm K33 Research, formerly Arcane Research, that examines the historical trajectory of the last three Bitcoin cycles.

The host said not too long ago that Bitcoin’s current cycle is looking most similar to its 2017 peak cycle.