Bitcoin's bull run for the new year - the opinion of Winklevoss and not only

By World Crypto | World Crypto | 14 Oct 2020

The BTC rate confidently settled above the $ 11,000 mark, and this activated the forecasts of bitcoin enthusiasts. However, the bear camp does not sleep either.

The Winklevoss twins, the founders of the Gemini crypto exchange, are definitely bulls. They regularly make optimistic statements about the outlook for the crypto market.Yesterday, October 13, one of the brothers, Tyler, again shared a rosy post on Twitter, announcing that the Bitcoin exchange rate (BTC) would be bullish for the new year:

Bitcoin looking strong. Poised for a breakout bull run into the New Year.

Rejoicing bulls

Probably, Winklevoss expects that by the end of the year the US authorities will nevertheless adopt a package of financial stimulus measures for the national economy in the amount of $ 1.8 trillion. Recently, in another tweet, he already called this package "an advertising campaign for bitcoin," capable of send the cryptocurrency rate "to the moon."

In addition to expectations of a new injection of liquidity into the traditional financial system, the current support factor for the bitcoin market is a new surge of hopes for the arrival of institutional investors.

Yesterday, Michael Sailor, founder and head of MicroStrategy, made another optimistic statement about the prospects for bitcoin.

In this regard, Sailor quoted Ross Stevens from the NYDIG leadership. According to Stevens, since the beginning of 2019, the size of assets on the balance sheet of the US Federal Reserve has increased by $ 3 trillion, and this has depreciated the dollar against bitcoin by 70%.

Let me remind you that MicroStrategy continues to actively invest in bitcoins, having currently increased the volume of cryptocurrency purchases to $ 425 million.

It also became known that another representative of corporate America - an asset management company, Stone Ridge - acquired 10 thousand bitcoins worth over $ 100 million. As reported, the custodian of these funds will be the New York Digital Investment Group (NYDIG) service.

The rise of a similar trend among institutions has delighted many crypto enthusiasts, including Anthony Pompliano, co-founder of Morgan Creek Digital. He promised Bitcoin will explode when "all suits start buying it."

Bears are not extinct

However, bears have not died out in the crypto community, although there are now fewer of them. For example, Keith McCallough, CEO of Hedgeye Risk Management, recently surprised industry participants with the news that he is getting rid of bitcoins as part of a "risk management process" and has now sold his last position.

He also said in one of the comments that in the long term he is bullish on the bitcoin rate, but in the short term he is a bear.

And since the beginning of the year, the increase in the MTC rate is more than 67%. This indicator is significantly ahead of the results of gold and the S&P 500.


Now my opinion:Do I believe in Bitcoin growth for the new year? Yes!I hope for a full bullish period from the beginning of 2021! Why?

The year of the bull is coming and will eclipse 2017! As it will be the coolest bitcoin and cryptocurrency race!

How do you rate this article?



World Crypto
World Crypto

Analytics, regulation, latest news and not only in the world of cryptocurrencies!

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.