A crypto analyst who is widely followed is trying to figure out what could start the next bull run, stating that the demand for digital assets outside of the U.S. could go up.
Guy Turner, the host of Coin Bureau, advises his 130,000 subscribers in a new video update that regulators “sorting themselves out” could be the next thing that gets the whole industry growing.
Turner expressed that introducing favorable regulations in the United States and the U.S. Securities and Exchange Commission (SEC) addressing regulatory issues could trigger a significant upward trend in the cryptocurrency market.
Turner states that he believes a bull market will start sometime next year, but he also says that a long court case between the SEC and Coinbase may mean something other than that good regulations are on the way.
Coinbase’s potential enforcement action by the SEC, as indicated in a Wells notice earlier this month, could lead to a lack of investment in altcoins, according to Coin Bureau host. He believes the absence of significant price surges in altcoins could be due to increased capital allocation to Bitcoin and Ethereum.
He predicts that a potential bull market may not return until next year. Turner warns that a Coinbase lawsuit, similar to Ripple’s case, could take years and may not necessarily lead to improved regulations. However, he remains optimistic that a bull run could still occur even without regulatory clarity.
Guy asserts that overseas interest in crypto assets is growing, especially in Asia, as Hong Kong is set to legalize crypto trading in the coming months.
He noted that many believe the next bull run in the crypto market will come from Asia. With Hong Kong set to legalize crypto trading in just a few months, he anticipates renewed interest in crypto from the region and beyond.