Expert: Bitcoin Is Already Capable To Reach $10 000
Billions of dollars left the crypto currency market in 2018, brining serious losses to every ordinary Bitcoin and altcoin investor. The level of hype receded after the storm, the industry is depressed now. However, the things may change radically soon: crypto market capitalization will gain a huge amount of money in dollars.
Bulls Are Getting Ready For Growth
Three Arrow Capital CEO Su Zhu recently explain in his Twitter why investors should be optimistic about Bitcoin future. According to the information of his sources familiar with the matter, billions of dollars reside «on the sidelines» of the crypto market, they will be invested in digital assets at the right time. Hedge funds and other financial companies already have at least $2 billion in fiat for this purpose.
Moreover, the total amount of money invested over the last two months already exceeds $6 billion.
These billions of dollars are already invested in crypto currencies and it’s just silly to think that Bitcoin needs more money to reach $10 000.
Unfortunately, Su hasn’t revealed when this money will be invested in Bitcoin. Also, he didn’t make any forecasts regarding the price of the crypto currency itself.
As it might appear at first sight, $6 billion isn’t a serious amount of money when crypto market capitalization has exceeded $100 billion long ago. However, don’t forget about multiplier effect which comes out when industry gets new investments. Even weak price runup may provoke bullrun and draw community’s attention while volatility is low.
For example, JPMorgan’s analyst believes that new investments amount should multiplied by 117.5. The other analysts are talking about more modest numbers: according to them, the value is from 2 to 25.