With the markets in decline, notions of a new bull run will of course be quite welcomed by crypto enthusiasts and crypto investors alike.
John McAfee is a well renowned cryptocurrency ‘expert’ although his opinions are sometimes quite ‘bull-centric’ so to speak. By this, I mean that no matter what happens, McAfee tends to remain very bullish in his predictions and opinions. In short, he’s got a very strong belief in cryptocurrencies and believes that they are destined for great values.
Institutional investors are preparing to enter the cryptocurrency market with a vengeance. They are generally long term investors and will be pumping billions into the market. Expect the top ten coins to go through the roof fairly quickly. The bulk of alt coins will soon follow.
— John McAfee (@officialmcafee) 21 May 2018
In this recent Tweet, McAfee states:
“Institutional investors are preparing to enter the cryptocurrency market with a vengeance. They are generally long term investors and will be pumping billions into the market. Expect the top ten coins to go through the roof fairly quickly. The bulk of altcoins will soon follow.”
In essence, McAfee is saying that here, with prices riding low, very large scale investors are on the brink of buying into and investing in cryptocurrencies. What this will do in turn, is cause the top ten cryptocurrencies to skyrocket (assuming it is the top ten that these big investors are buying into). In turn, this will lead the rest of the markets onto an upwards trajectory, with the majority of altcoins soon following on.
Bitcoinist.com have also passed comment on this, stating that although McAfees claims can’t yet be reinforced with any concrete evidence, many big firms have been paying an interest in cryptocurrencies of late, even though the markets have been down significantly. According to Bitcoinist.com:
“While McAfee did not provide any backing for his claims, there is some merit to his position regarding the flurry of institutional interest in cryptos that have made the news in recent times. A few days ago, Coinbase launched four new products targeted at institutional cryptocurrency investors. Goldman Sachs is also making plans to open Bitcoin trading to large investors as well.”
What does all of this mean, overall?
Well, as we are always saying, experts are predicting the markets to surge in a similar way to the surge we saw at the end of 2017 and the start of 2018. Overall, cryptocurrencies are assets with attractive investment opportunities, therefore, it seems likely that we could see some market spikes take over soon enough, as a result of big institutional investment.
Of course, as we know, this is something we cannot guarantee and thus, even the words of McAfee should not be seen as investment advice, it is but speculation.
Overall, we do remain positive, the markets will recover from this, although we can’t be sure to what extent this will happen, we are confident that the cryptocurrency markets will continue to remain positive through the year. These short blips are expected and really, they are all a part of the fun of it all, aren’t they?
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