Bitcoin has managed to climb back above $30k lately, and we have mixed feelings regarding such a move. On the one hand, there are bulls claiming we will see higher targets being reached until a correction occurs, while on the other hand, we have our usual bears calling for a "bull trap" for the past few months.
No one can be certain about what will happen in the crypto markets over the next couple of years. However, my take is that aside from occasional slight corrections, the trend should be "up only" until after the halving.
Meanwhile, Hansainvest, one of the biggest financial services companies in Europe with €55 billion in assets under management, has added crypto to its Wealthgate Multi Asset fund. Wealthgate is a global mixed fund investing in securities of all kinds, including shares, bonds, money market instruments, certificates, funds, and time deposits. And now crypto too.
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This news is bullish, and more exposure for crypto investments for all sorts of investors, retail and institutional, is only going to push the price up, at least during bull markets. Germany is one of the most crypto-friendly countries, and we are in the bullish territory since we started climbing the ladder from that $15k bottom, and who knows where the top shall be.
It has also been revealed lately that Russian citizens hold more Bitcoin and crypto than gold or mutual funds. This could be due to our gradual transition to a digital era, Russia's delicate situation right now politically and economically, and Bitcoin proving its resilience as a store of value over 14 years of existence.
Who's going to buy Bitcoin during this bull market? This question reminds me of a few exchanges of comments I had with @trumpman in the past few weeks/months regarding how crypto will once again appreciate and conquer new peaks, considering the current societal turmoil and the threat of societal collapse hovering over our heads. I have quite a few candidates for such a task.
First and foremost, I clearly see more banks and financial institutions getting into Bitcoin. SVB and similar other bank fails are a warning signal for what's to come. Considering that we're entering a digital era, having some exposure to Bitcoin would make a lot of sense for both institutional and retail investors.
Banks are trustless, governments are beyond trustless, and the future is a bit hazy, but seeing "the digital path" we're walking towards makes me say that Bitcoin and a bunch of other crypto projects that make sense could become important candidates for the next generation "stores of value".
I'm driving on a flat tire when it comes to personal savings, but once I get myself some bull market profits, I know what I'm going to do with that. 25% cash, 25% in Bitcoin, 25% in HIVE, and the rest goes into HBD. Crypto makes so much sense to me for the future, and I've planned accordingly. If I fail, then so be it.
What do you think? Who are the buyers of the current bull market in crypto?
Thanks for your attention,
Adrian
