According to Bloomberg, this type of run has traditionally been favourable for the crypto, as its data shows that four-month gains by bitcoin presaged an average climb of 260 per cent in the ensuing year

Bitcoin is on track to rise for the fourth month in a row, its longest run in two years.

That is as per a Sunday Bloomberg News report, which notes that this type of run has traditionally been favourable for the crypto, as its data shows that four-month gains by bitcoin presaged an average climb of 260 per cent in the ensuing year. In this case, that would bring the price of bitcoin to record $105k.

The most important thing for crypto is that it is a lightning rod for liquidity, Christopher Forbes, head of CMC Invest Singapore, told Bloomberg Television. And as liquidity returns to the market, and it is and we are seeing that, I think crypto will continue to trade well.

According to the report, over the last few days — Standard Chartered Bank, BCA Research and Bloomberg Intelligence have all indicated the possible tracks for bitcoin to reach $100k.

The recent banking-sector turmoil has helped to re-establish core use case of bitcoin as a decentralized, trustless and scarce digital asset, Geoff Kendrick, head of crypto and EM FX West research at Standard Chartered, stated in a note.

The news comes amid a rush of regulatory actions around the crypto currency sector, such as the EU’s April 20 approval of the Markets in Crypto Assets (MiCA) regulation.

As noted in the report, market observers are growingly taking the stance that Markets in Crypto Assets could aid the crypto industry eventually get something it has found elusive all through its decade-plus history: access to banking services.

Crypto currency continues to be a hot topic in the news, and while just below 1 in 3 U.S. consumers own crypto currency (31 per cent), those who do consider crypto when making a range of financial decisions, including where they bank.

Some experts state that the more consumers become educated about crypto’s potential, the more inclined they may be to experiment with digital assets. And indeed, half of consumers state that one reason they do not use crypto currency is because they know so less about it.