Bitcoin
BTC$42 435.30

-3.82%

Ethereum
ETH$2 898.43

-7.49%

Cardano
ADA$2.23

-0.57%

Tether
USDT$1.001440

0.09%

Binance Coin
BNB$352.49

-7.00%

XRP
XRP$0.932568

-6.42%

Next Bitcoin Bull Run Will Be Dramatically Different


31 Jul 2020   #Bitcoin

Cameron Winklevoss, the billionaire founder of cryptocurrency exchange Gemini, believes the next Bitcoin (BTC) bull run will be much different. When compared to previous bull markets, Winklevoss noted that there is substantially more capital, infrastructure, and better projects.

Winklevoss said: “The next Bitcoin bull run will be dramatically different. Today, there’s exponentially more capital, human capital, infrastructure, and high-quality projects than in 2017. Not to mention the very real specter of inflation that all fiat regimes face going forward. Buckle up!”

Various data points hint at a significant increase in the amount of capital held by investors in the cryptocurrency market. Major cryptocurrency exchanges have also received more regulatory clarity, improving the infrastructure of the market.

Two metrics primarily show that more money could be involved in the latest Bitcoin rally. First, the market capitalization of Tether (USDT) has surpassed $10 billion. Second, the assets under management (AUM) by Grayscale Investments recently achieved a new high.

To date, Tether is the biggest stablecoin in the cryptocurrency market. Investors, especially in countries with regulatory uncertainty, rely on the stablecoin to trade crypto assets. A rapid rise in the market cap of Tether could indicate more money is waiting to deploy on crypto exchanges.

Grayscale’s crypto-asset trusts are arguably the most widely-utilized investment vehicles by institutions to gain exposure to cryptocurrencies. Within the last quarter, the assets under management in Grayscale’s suite of products hit an all-time high at $5.1 billion.

The confluence of Tether’s market cap and Grayscale’s ballooning assets under management shows that capital held by institutions and retail traders continues to increase substantially.

In 2020, exchanges and banks in the U.S. primarily saw regulatory clarity regarding cryptocurrencies. The Office of the Comptroller of the Currency of the U.S. (OCC) allows banks to provide and operate crypto custodial solutions. It is essentially a green light for financial institutions in the U.S. to get involved in the cryptocurrency market.

JPMorgan is also reported to have accepted Gemini and Coinbase, two of the largest spot exchanges in the U.S., as clients. Through this, the fear of strained banking relationships affecting exchanges and users has subsided.

Clarity around cryptocurrencies by major U.S. regulators and banks could improve the perception of the asset class by the mainstream. This means if Bitcoin approaches a new bull market, the improved sentiment around the entire industry could benefit BTC adoption and its value.

Bitcoin Lightning startup Zap is working with Visa and has participated in its Fintech Fast Track Program. This allows Zap to launch Visa cards as a part of the partnership.

Source


Related

Bitcoin bulls make a run on $45K after Twitter debuts crypto tipping
Buyers have returned to cryptocurrencies
FBS Launches New Crypto Account with 100+ New Instruments
Bitcoin in good shape as long as BTC price stays above $40K
Is it a Buy-the-dip moment for crypto?
Bitcoin bounces to $43K ahead of fresh crypto comments from SEC Chair Gensler
Bitcoin loses $44K support as stocks, Evergrande nerves hit BTC price
Cryptocurrency market rebound dries up, alarmingly recalling 2018
Bitcoin sees quite healthy consolidation on $200M BTC options expiry day

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 86% 27 $42 435.30 -3.82% -10.67% $798 843 453 346 $41 875 933 869
2 Ethereum (ETH) ETH Ethereum predictions 74.8% 50 $2 898.43 -7.49% -16.63% $341 018 107 532 $25 119 846 328
3 Cardano (ADA) ADA Cardano predictions 64% 78 $2.23 -0.57% -6.34% $71 411 624 055 $5 734 484 720
4 Tether (USDT) USDT Tether predictions 96% 1 $1.001440 0.09% 0.11% $68 691 485 942 $92 416 325 974
5 Binance Coin (BNB) BNB Binance Coin predictions 60.8% 78 $352.49 -7.00% -14.45% $59 266 206 180 $2 064 251 017
6 XRP (XRP) XRP XRP predictions 75.2% 48 $0.932568 -6.42% -12.98% $43 567 385 538 $4 641 985 825
7 Solana (SOL) SOL Solana predictions 63.2% 83 $139.49 -5.82% -1.32% $41 467 489 552 $4 041 527 553
8 USD Coin (USDC) USDC USD Coin predictions 91.6% 1 $1.000761 0.07% 0.05% $30 432 510 822 $3 991 490 878
9 Polkadot (DOT) DOT Polkadot predictions 62.8% 74 $30.77 -2.94% -9.08% $30 391 187 124 $3 785 910 016
10 Dogecoin (DOGE) DOGE Dogecoin predictions 65.2% 78 $0.208918 -6.33% -14.44% $27 455 953 723 $2 219 973 271
11 Avalanche (AVAX) AVAX Avalanche predictions 63.2% 82 $73.45 -4.25% 12.05% $16 179 548 858 $2 391 193 014
12 Terra (LUNA) LUNA Terra predictions 68.8% 61 $34.85 -2.03% -0.58% $13 942 018 660 $2 307 928 114
13 Binance USD (BUSD) BUSD Binance USD predictions 95.6% 1 $1.000668 0.05% 0.05% $13 477 216 401 $6 991 450 944
14 UniSwap (UNI) UNI UniSwap predictions 65.2% 74 $19.64 -8.12% -20.80% $12 010 497 802 $461 226 982
15 Chainlink (LINK) LINK Chainlink predictions 68% 64 $22.80 -7.36% -19.93% $10 361 191 269 $1 641 630 892

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2021 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.