Bitcoin: the biggest bull market in history is coming

A bull market is coming for bitcoin: Bernstein says so, despite a not-so-great track record in the past.
This is not us enthusiasts talking, but Bernstein, who, in a newsletter published yesterday for his clients, spoke again about the possibility of a new bull cycle for the entire sector. A cycle that would be triggered by the collapse of FTX, in a curious intertwining of events even with classical economics.
A loss of control from which not only bitcoin and bitcoiners could emerge victorious, but also, according to Bernstein, those trying to build an alternative financial world.

FTX and its collapse is a trigger for the next bull run

This is a strong and interesting opinion spread in a research report by Bernstein, a group that does not neglect even cutting-edge analysis of the cryptocurrency and bitcoin world. We are at the beginning of a new bullish cycle for the entire sector, they say, just 5 months after the biggest collapse in the history of the sector.
The crack, however, has the merit of clearing the market of too much leverage and the dangerous and unstable puts that they turned out to be afterward.

Bank weakness is a boon for bitcoin

This is the first of the strong opinions circulated by the group. While central banks are quick to reiterate that the situation is under control, the problems for smaller regional banks continue - and they will have to reckon with continued withdrawals and the real possibility that what is withdrawn will never come back.
A situation which, again according to Bernstein, popularizes the problem of "currency centralization" and its risks, with Bitcoin now having an easier time establishing itself as a viable alternative.
Such problems could be a step forward for the entire DeFi ecosystem, which offers precisely decentralized alternatives to an increasingly interconnected and centrally-dependent banking world.

How credible is this analysis?

We've always been skeptical of the idea of linking bitcoin's rise since the beginning of the year to a rapid change in what the general public ideally associates with $BTC. Simply put, we believe that it takes time for such a radical change in people's attitudes toward bitcoin to occur, especially if they come from very distant worlds and, equally, if they have never questioned the nature of the currency.
This does not mean that we do not believe that cycle lows have already been reached and that there cannot be a strong bull market going forward. It simply means that such motives, namely the immediate awareness by the general public of an alternative to bitcoin, are somewhat exaggerated at this point.

Can we already talk about a bull market?

A bear market and a bull market are concepts that we have a hard time applying to the cryptocurrency market, at least by fundamental standards, as we used to do in the stock markets. If by bull market we mean a market with unambiguously bullish characteristics, then we believe there is such a possibility.