What Will Be The Main Driving Forces In Crypto Markets In 2021?
4 Feb 2021 — What will be the main driving forces in the #crypto markets in 2021? Check out the highlights from VCs and hedge funds perspectives during the Singapore Crypto Trading Summit by Cindicator.
William Bao Bean, SOSV – The Accelerator VC started off by saying, “The recent run up is [sic] probably [from] the expectation of institutions coming in, but the amount of exposure from institutions coming into the market … will for the next 1 to 3 years be the main driver,”
“Some institutions are starting to buy so I don’t think it’s purely just retail buying on expectation … it is very interesting I’m actually seeing the interest really from a lot of commitment from institutional franchises,” said Benjamin Tsai, Wave Financial.
Patrick Tan, Novum Capital added, ” #Bitcoin was flushed down to just below USD30K because people were afraid that regulation was going to come in. I think it’s [regulation] a good thing. I think that when the rules are set, it gives people an opportunity to find opportunities,”
Christina Qi, CAIA, Databento concluded that the institutional interest, this time around is a lot more genuine than it was back in 2017. “Back then, it was all because of PR momentum but now it’s because of other reasons, there’s actually more liquidity in the markets,”