Bitcoin Prediction from Crypto Billionaire: It Has Started Now!

Cameron Winklevoss, co-founder of Gemini crypto exchange, made a deep statement on Twitter that “the massive accumulation of Bitcoin (BTC)” has begun. While Bitcoin (BTC) continues to gain general acceptance, Camron’s statements sparked intense speculation and interest among both investors and enthusiasts. Here are the details…

An explanation came from Winklevoss for Bitcoin

A billionaire, as we report on cryptokoin.com, Cameron draws a comparison between the previous decade, when Bitcoin emerged as the most prominent and best investment, and the current decade, which presents an opportunity for what he believes to be the most obvious and best trade. With the speculative possibility of the launch of Bitcoin ETFs, Cameron emphasizes that the accessibility of Bitcoin will expand and potentially transform the market. Gemini’s boss claims that investors who are aware of the limited window for pre-IPO investments may see this as a viable opportunity to accumulate Bitcoin before wider adoption occurs.

Recently, big players in traditional finance such as BlackRock, Invesco, Fidelity Investments and Wisdom Tree have applied for Bitcoin ETFs, boosting investor confidence. It is noteworthy that Cameron’s statements were motivated by the recent price spike, where Bitcoin reached $30,000 for the first time since April. At the time of this writing, Bitcoin was trading at $30,160 with a 6.5 percent price increase over the past 24 hours. Meanwhile, Cameron previously predicted that the focus would shift from the US to the East when it comes to the next major crypto bull run due to increased regulatory requirements.

What affects the price increase of Bitcoin?

Bitcoin’s price surge comes after Fed Chairman Jerome Powell’s comments acknowledging the role of stablecoins as a form of money. Powell also expressed the view that the central bank should play a role in approving the issuance of stablecoins. Simultaneously, the US House of Representatives Financial Services Committee signaled its intention to vote in July on new legislation aimed at providing greater clarity for cryptoassets. The proposed legislation aims to create a clearer regulatory framework by facilitating the transition of crypto assets from a security status to a commodity. Also, Bitcoin’s recent price jump has corresponded to a massive increase in network activity, as evidenced by the increase in transaction volume.

What does PlanB say?

PlanB, creator of the Stock-2-Flow (S2F) model, shared a thought-provoking question on his official Twitter account while weighing the plausible reasons for the continued bullish momentum. The S2F model he created can be applied to all investment assets, but PlanB is particularly interested in Bitcoin (BTC), which he is optimistic about will rise above $100,000 in the near term. The Bitcoin halving that PlanB mentions is a network event that happens automatically every four years.

The next halving is not expected until April next year, a time when rewards to Bitcoin miners will be halved from the current 6.25 BTC. The halving is known to be followed by a period of tremendous price increase, and investors are often piling on the cryptocurrency on the grounds that its price will increase in the near future.