Dave Chapman of Octogon Strategy, a private trading specialist from Hong Kong, believes that he sees a new line of investors. This new series could lead to a new growth in the crypto currency market.
Chapman’s company specializes in commodity investments and digital currencies. According to his latest observation, he sees a new inflow of institutional investors to Octagon. These new investors could be responsible for new growth impulses in the future.
There is currently heated debate about Bitcoin. From many sides one speaks about digital currency as a bubble and the comparison to the Tulpenmanie or the Dot Com bubble is not far away. Chapman admits that the market is heated, but at the same time it has to do with other events. “I do not believe we’re looking at a bubble at all,” Chapman Bloomberg explained. “I would say that the market is heated up and that many people recognize a bubble and sometimes it is really hard for me to defend that position. But I’ll say we may be at a turning point. “
“Bitcoin is growing. At Octagon Strategy, we’re seeing a shift in the demographics of our users, we’re dealing with very wealthy players, fund and asset managers, and private banks, so these institutional investors are driving up prices. “
$ 10,000 in sight
The idea that Bitcoin could reach $ 10,000 by the end of the year is not absurd at all for Chapman. “I do not think it would be unthinkable to see a five-digit amount by the end of the year,” Chapman added. “There was an immense increase in cryptocurrency investments overall.
“The total market capital of all cryptocurrencies in January was $ 20 billion, today we are looking at $ 146 billion. Within eight months, $ 126 million has flowed into the sector, so we are dealing with a heated market, but I believe we are seeing a turning point, we are dealing with a completely different flow of institutional money. “
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Categories: Crypto Currency