Bitcoin and the bull run – many hedge funds now buy BTC

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After the good euphoria surrounding Bitcoin in 2017 and therefore the painful crypto winter of 2018, many are wondering when a comparable Bull Run will happen again. Most experts agree that a replacement bullish phase will come, but the potential that BTC can play in global finance is just too great. But what should trigger subsequent Bull Run a la 2017?

A massive rise within the Bitcoin price would be triggered by 2 factors: a lower supply and increased demand. the previous is going to be triggered by the Bitcoin Halving early next week, which can halve the rate of inflation and double the stock-to-flow value. But that alone won’t cause a Bull Run. It also requires increased demand from old and new investors. While the 2017 Bitcoin Bullrun was mainly driven by private investors, subsequent one could come from the “big money” of institutional investors. consistent with billionaire Mike Novogratz, the train of institutionalization is currently gaining momentum. Many hedge funds are investing in BTC immediately.

 

Bull Run possible? – Hedge funds get in

The billionaire Mike Novogratz is perhaps already documented to most of the people within the crypto sector. the previous Goldman Sachs employee and current CEO of Galaxy Digital is one among the foremost prominent personalities, alongside figures like Tim Draper, who have begun as Bitcoin fans. Novogratz is clearly bullish for BTC within the future.

In a new interview with CNBC, he talks about some insights. He currently sees many institutional investors within the sort of hedge funds coming into Bitcoin Space. After an extended dry spell, activity is now expected to rise again:

We’re seeing tons of latest investors during this area. Hedge funds buying it, not just individual managers. They’re buying it into their funds. i feel you will see some announcements or letters from investors soon. then all positive things about the flow into this area.

After an extended desert, we now have real activity.

Novogratz is keeping an in-depth eye on exactly which hedge funds are involved and the way much they need to be invested in Bitcoin. The billionaire has repeatedly expressed his concern in recent weeks, particularly within the course of the economic measures taken against the consequences of the coronavirus. consistent with him, “money doesn’t grow on trees”, but that’s exactly what the FED and other central banks are suggesting. He, therefore, sees a trend towards hard assets like gold or maybe Bitcoin. There is the possibility of a bull run.

 

Has the Bitcoin price already seen its annual low?

In an interview with CNBC, Mike Novogratz also discusses what’s happening on the stock exchange. In his opinion, we’ve already seen the worst. Since the FED has decided to try to everything possible to stop a collapse of the financial markets, he thinks that there’ll be no new annual lows:

I think we’ve seen the lows of the year. I just don’t think there’s an honest story to elucidate why things are getting to increase.

But why is that relevant to Bitcoin? Just since the crash in mid-May, the correlation between Bitcoin and therefore the stock markets, just like the S&P 500, has been very high. The fear is that a renewed collapse within the traditional markets could, therefore, drag Bitcoin down a second time. If Novogratz is true in its forecast, this is able to even be a positive sign for the Bitcoin price within the short and medium-term!

In addition, there are now only a couple of days left until Bitcoin Halving. Many are forecasting a huge increase within the future by doubling the stock-to-flow value. So if you’re convinced by BTC after your own extensive research, invest or want to trade, one among the foremost details is to seek out the proper broker or exchange. supported our own tests over a previous couple of years we will, therefore, invest in eToro as a platform. Just see for yourself! Prepare yourself for a possible bull run.

 

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