By Justin Hilbert
I’m sure you are all dying to know our predictions on the cryptomarkets for the remainder of Q3 & all the way through Q4. But let’s look at a few of the major crypto news headlines first.
If we don’t pay attention to what’s going on around us, it’s harder to predict the future. There is a lot going on in the world right now that will directly affect the crypto markets, and also a couple of things that will indirectly affect it, but in significant ways.
A Different Kind of Bull Run
You may remember the Winklevoss twins from dramatic reenactments by a couple of pretty-boy actors in The Social Network, Facebook’s biography.
The Winklevoss twins are still filthy rich –surprise, surprise– and if you didn’t know, Cameron Winklevoss is a co-founder of Gemini, a digital exchange and crypto custodian. In fact, he’s not just a billionaire investor. In the crypto world, Cameron Winklevoss is one of the most well-known names.
Cameron recently told CoinTelegraph to buckle up. The next Bitcoin bull run will be ‘dramatically different.’ He went on to state that reasons being because there is now more infrastructure, an exponentially higher amount of capital, many more high-quality crypto projects underway, and of course, more human capital as well.
To give this statement some context, he was comparing against the 2017 bull run when Bitcoin smashed its way horns first above the $20k mark.
CoinTelegraph elaborates a little bit on the capital Winklevoss was referring too. Multiple data points show that much more capital is being held by investors at the moment, and certain investment groups have reached new high-marks in their holdings.
NBA and MLB Reboot
For the fans it’s a relief to know that sports are coming back again, mostly behind closed doors, but at least we can watch some games. Baseball and the NBA started a few days ago.
The months that sports were cut back bring the advantage for fans who like to use cryptos now they have their wallets full waiting to be used.
We will see in the next days and months how the transactions with cryptos start to increase because of the resumption of sports events. Many people like to use digital coins because they can quickly fund their accounts and also withdraw their funds back into their BTC, LTC, or ETC wallets in minutes instead of days. Some people also use sportsbooks to quickly convert their coins to cash and effectively ‘unfreeze’ their funds.
The point is, sports are back and we suddenly see BTC break the 10K mark. This is not a coincidence. And the more movement and trading we see as we move towards the MLB and NBA Playoffs and the kick-off of college and NFL football, the more we’ll see the price index rise. More and more people will be purchasing cryptos for the sole purpose of account funding. We’re talking about millions around the world.
Price Rejection Broken
Speaking of the 10K price rejection, it’s finally happened. BTC broke ten-thousand dollars and has stayed above that critical line for four days already. This is the first time BTC has been able to do this in two years!
At this point, the coin is hovering around 11K and the next big plateau is the 12K-mark. Once 12K is broken 15K is the next big number, then 20K. Once the crypto hits 20K again, the sky is the limit.
Considering all of these factors, I believe we will close out 2020 above the 20K mark. IN fact, I think it will be in the upper 20-thousands, around 27-28K, firmly establishing a new all-time high for BTCs price index. Other coins will follow suit. Faith in BTC will evoke faith in the altcoins and we will see XRP finally get back up around $1.00 and smaller coins like Tron, Orchid, and Stellar take-off.
If you haven’t hopped in the crypto wagon yet, now is the time to do so. We are going to see exponential growth in BTC over the next year. I see the coin hitting $50,000.00 by the end of 2021, perhaps even higher. So, yeah … Winklevoss twin No. 1 is correct in saying, ‘buckle up.’ Because this bull run is going to be massive.