A Bitcoin bull run seems to be on the horizon. The signs are all around us at Bitcoin price has been on quite a boom over the week. Yesterday, we saw BTC grow by over 8.5% as prices reached close to $4,000. Over the past 24 hours, Bitcoin has maintained the price.
However, it now appears that we have another reason for a bull run: an increase in fees from VISA and MasterCard. Let us take a closer look.
Bitcoin Bull Run Incoming: VISA and MasterCard to Increase Fees?
VISA and MasterCard are two of the financial powerhouses of the world. Having a massive amount of PoS systems under their control, these payment networks are now going to increase their fees. A report from Reuters points out that starting April 2019, VISA and MasterCard will increase their fees for banks.
Given that the fee will rise for the banks – the banks will pass it on to the merchants and consumers in some form or the other. This is likely to contribute to a Bitcoin bull run as more users would be motivated to use cryptocurrencies. While this may not be the only reason for a Bitcoin bull run, but it sure is going to contribute significantly!
Early Signs of Bitcoin Bull Run: Price Boom
Bitcoin price has been booming over the week. It went from $3,609 at the starting of the week to a high of $4000.49 earlier today. However, it has since been trading in the $3900s.
This stability is quite critical at the moment. Market experts believe that a huge ‘breakout’ and a major Bitcoin bull run is likely once Bitcoin price crosses $4,200!
