Analyst Warns About The Bull Run From The Chinese Crypto Narrative
Crypto influencer Ben Armstrong, popular on social media as BitBoy Crypto, has expressed concerns about the recent Chinese crypto narrative. Stakeholders in the industry are anticipating that this narrative will trigger the next bull run in the crypto market.
In a recent video posted on YouTube, BitBoy warned those amongst his followers who believed that China was going to play a big role in the next bull run. “When they come out and ban crypto for the 748th time, that’s going to have a big downswing and downward effect on the market as well,” he warned.
The current sentiment on crypto Twitter suggests that China will lead the next bull run in Bitcoin and several other cryptocurrencies. Influencers and traders are somewhat convinced that the actions of regulators in the west will not benefit the crypto market, while the regulatory clarity emerging in the east is being viewed as an optimistic development.
Cameron Winklevoss, the co-founder and President of crypto exchange Gemini, recently took to Twitter to share his thoughts on the Chinese crypto narrative. According to him, the next bull run will start in the east. His statement about the lack of regulatory clarity in the U.S. suggests that he was talking about China since they’re starting to embrace crypto. In another tweet, Winklevoss added,
Any government that doesn’t offer clear rules and sincere guidance will be left in the dust. Quickly. This will mean missing out on the greatest period of growth since the rise of the commercial Internet.
BitBoy believes that Winklevoss’ hint about China and its role in the next crypto bull run, was a veiled warning to lawmakers and regulators in the United States, including the SEC and the CFTC.