To The Moon

Bitcoin And Crypto Now Braced For A China Earthquake After $100 Billion Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana Price Rally

A bitcoin and crypto sentiment shift could be underway, with traders increasingly cheering what appears to be a softening of China's stance toward crypto following its brutal crackdown in the summer of 2021 that wiped billions from the crypto market.

"The big question is, in spite of interest rates going up and the dollar gaining strength, is there a catalyst that can push [the bitcoin price over $25,000?]," Gareth Soloway, the chief market strategist at Verified Investing, told Coindesk, pointing to the China narrative as attracting new bitcoin buyers that had been spooked by Federal Reserve interest rate hikes and the threat of looming U.S. regulation over the last year. "I think this narrative out of Hong Kong could be something that helps."

After Hong Kong's financial regulator announced plans that could lead to an opening up of the crypto market this week, Bloomberg reported China's mainland government in Beijing could have quietly endorsed the idea, fueling expectations the crypto market could be in for an Asia-led boom.

"Interest in crypto is a global phenomenon, and regulators in Europe and now in Asia have realized that a base level of regulation is not only necessary but also desirable to build confidence in this nascent industry," Bradley Duke, co-chief executive at ETC ETC +0.8% Group, said in emailed comments. "Both investors and crypto service providers benefit from the stability brought by sensible regulation—a point that for now seems lost to the U.S. Securities and Exchange Commission (SEC)."

Now, the cofounder of bitcoin and crypto exchange Gemini, Cameron Winklevoss of Facebook-founding fame, has issued a "bull run" price prediction—warning the U.S. can either "embrace [crypto] or be left behind."

source: https://www.forbes.com/sites/digital-assets/2023/02/22/it-cant-be-stopped-crypto-exec-issues-looming-bull-run-price-prediction-after-100-billion-bitcoin-ethereum-bnb-xrp-cardano-dogecoin-polygon-and-solana-rally/?sh=5f1fef55874c