Crypto community has activated, issuing optimistic forecasts for bitcoin.
Tyler Winklevoss looks forward to a bullish BTC rally for the new year.
Another representative of corporate America invested in bitcoin – Stone Ridge.
International consortium of news organizations developing transparency standards.
The BTC rate confidently settled above the $ 11,000 mark, and this activated the forecasts of bitcoin enthusiasts. However, the bear camp is also awake..
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. Today, October 13, one of the brothers, Tyler, again shared a rainbow post on Twitter, announcing that the Bitcoin exchange rate (BTC) will arrange a bullish rally by the new year.
#Bitcoin looking strong. Poised for a breakout bull run into the New Year.
– Tyler Winklevoss (@tyler) October 13, 2020
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 throwing the cryptocurrency rate “to the moon”.
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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..
Today Michael Sailor, founder and head of MicroStrategy, made another optimistic statement on the prospects for bitcoin. Earlier, the editorial staff of BeInCrypto already said that MicroStrategy continues to actively invest in bitcoins, having increased the volume of cryptocurrency purchases to $ 425 million at the moment..
Now it 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).
"As the Fed’s balance sheet has increased $ 3 trillion since the beginning of 2019, the U.S. dollar has depreciated 70% against #BTC." – Ross Stevens – Executive Chairman of NYDIG https://t.co/iWHXlu43Fl
– Michael Saylor (@michael_saylor) October 13, 2020
In this regard, Sailor quoted Ross Stevens from the NYDIG leadership today. 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%..
The rise in this 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.”.
Bitcoin is going to explode when all the suits start buying it
– Pomp (@APompliano) October 13, 2020
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 the “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.
Long-term Bullish #Bitcoin. Short (to potentially intermediate-term) term Bearish https://t.co/DwHApl7mr9
– Keith McCullough (@KeithMcCullough) October 13, 2020
At the time of writing, bitcoin is trading in the red intraday but is still in positive territory over the past seven days. Moreover, 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 index&P 500.
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#Bitcoin Performance in 2020
Oct. 12, 2020
Year to date
BTC + 67.5%
Gold + 26.1%
SP500 + 8.37% pic.twitter.com/xK6VX1dSPG
– ecoinometrics (@ecoinometrics) October 13, 2020
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