Some prominent names of the crypto money community think that the days that are said to come for a long time are coming.
Crypto trackers have been waiting for institutional investors to enter the market since 2017. The view is; As the number of hedge funds investing in cryptocurrencies increases, the market’s recognition will increase, it will gain mass acceptance and as a result it will begin to grow rapidly.
BitMEX CEO Arthur Hayes, the host of Fast Money program at CNBC, Brian Kelly, one of Gemini’s executives, Tyler Winklevoss, and many others think these days are coming. And this may mean that the Bitcoin price is ready to rise.
Institutions Are Coming
What happened to these names, and recently, they started saying “corporations are coming”? In other words, why are those days that are said to come but not come for years now?
The source of all these statements and comments made lately is based on a single name. That’s Paul Tudor Jones. According to some, Jones, who is one of the most important investors of the 20th century and according to others, who is one of the most successful and smart investors of recent times, announced that he started to buy Bitcoin recently.
BitMEX CEO Arthur Hayes made a statement on this, saying that many “fund managers will follow Jones” and enter the cryptocurrency market. Tyler Winklevoss believes that Jones’ arrival will herald the arrival of “Wall Street”.
We do not know if these names are right, that is, institutional investors are really entering the market. However, it should be emphasized that at this point, it should not be hoped early. Because when CME Group opened Bitcoin transactions, when Bakkt entered the sector and so on, similar comments were made. But if these names are justified and the corporations are really entering the market, the price of Bitcoin can start rising rapidly.
Announced the First Goal
There are various predictions about where the next stop of the bitcoin price will be. In an article we shared this morning, we included the views of GalaxyBTC, which points to 20 thousand dollars for Bitcoin.
Tom Lee, co-founder of Fundstrat Global Advisors, recently made a prediction about Bitcoin. Reminding that Bitcoin earned more than gold and S & P500 this year, Lee said; He believes that especially Jones’ entry into the market will affect Bitcoin positively. Lee does not make a clear guess about the price of Bitcoin, but says that Bitcoin is “taking the wind behind.” Meanwhile, we know that Fundstrat has set the target of 15 thousand dollars for Bitcoin in the next 12 months.
At this point, it should be reminded that Tom Lee is not one of the most successful analysts of the market. Lee, who has often made cold estimates for Bitcoin in the past years, has failed to catch almost any of them. But the Fundstrat team’s predictions can be more consistent compared to Lee’s personal predictions.