Cardano Inventor: If This Happens, Mega Bull Market Will Start!

Source: Charles Hoskinson | iohk.io

Although the cryptocurrency market sometimes tries to make a move, this move comes to naught for different reasons. For a while, the market, which was riding on the wind of the Ethereum Merge, hit the aggressive Fed wall and went down. However, Cardano founder Charles Hoskinson reveals the catalyst he believes could end the crypto slump and ignite a "mega bull market".

Cardano founder: If this happens, we will see a mega bull market

Leading altcoin Ethereum (ETH) successfully completed its long-awaited Merge upgrade. Following this, Cardano (ADA), an Ethereum competitor, also launched its Vasil Hard Fork. Important developments such as these in the cryptocurrency market normally serve as important catalysts. However, in harsh winter conditions, their flames are quickly extinguished. However, the Cardano inventor is talking about a development that will end the crypto winter. Accordingly, he says he has identified the catalyst that will ignite a major industry-wide rally.

In a new interview, Cardano creator Charles Hoskinson discusses the state of the crypto market. Hoskinson says that if the US government passes the Financial Innovation Act, crypto markets will begin a mega bull run. The passage of this legislation will encourage institutional investors to flood crypto markets with capital, Hoskinson said. It would also encourage them to reduce the regulatory risks associated with investing in digital assets. In this context, Hoskinson makes the following statement:

SINCE I JOINED, I'VE SEEN SEVEN BULL-LOVER MARKETS IN THE CRYPTOCURRENCY SPACE. THIS CURRENT MARKET IS NO DIFFERENT. IT COULD LAST 18 MONTHS, IT COULD LAST TWO YEARS, IT COULD EVEN END AT THE END OF THE YEAR. NO ONE KNOWS. IT COULD BE ANY SUNDAY. HOWEVER, IF AMERICA PASSES THE FINANCIAL INNOVATION ACT, A HUGE AMOUNT OF INSTITUTIONAL MONEY WILL COME IN. AND ALL THE REGULATORY RISKS ASSOCIATED WITH CRYPTO WOULD DISAPPEAR. SO WE WOULD PROBABLY SEE A MEGA BULL MARKET.

"Gary Gensler means mega bear market!"

As you have been following from cryptoify.blogspot.com, the Financial Innovation Act, proposed in June by Republican Senator Cynthia Lummis of Wyoming and Democratic Senator Kirsten Gillibrand of New York, aims to create a comprehensive regulatory framework for the digital asset industry.

However, Hoskinson notes that it is possible for markets to go the other way if some regulators, such as Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), are given more authority. Based on this, he makes the following comment:

IF PEOPLE LIKE GENSLER ARE EMPOWERED, THERE WILL BE A HUGE AMOUNT OF LITIGATION. IN WHICH CASE WE COULD SEE A MEGA BEAR MARKET TAKE PLACE. IN WHICH CASE, ALL THESE POOR ENTREPRENEURS WOULD SIMPLY BE THROWN OUT OF THEIR JOBS BY THE RUDE GOVERNMENT.

Source: DailyHodl