Here’s What Could be a Trigger For a New Crypto Bull Run

The Hong Kong Government is releasing a policy statement on the Development of Virtual Assets.

Hong Kong Financial Services Minister Christopher Hui said: “We recognize the potential of DLT and Web 3.0 to become the future of finance and commerce, and under proper regulation, they are expected to enhance efficiency and transparency. The Government is prepared to embrace this future, and we welcome the clustering of Fintech and VA community and talents in Hong Kong, and we will promote the sustainable development of financial services across the whole VA value chain.” 

Well-known trader Arthur Hayes believes that the intention of Hong Kong, as an intermediary between China and the rest of the world, to take a step towards the legalization of cryptocurrencies could be the beginning of a new bull market.

If that happens, you might wish you had bought a more bitcoin.

BTCUSD weekly chart

DYOR.