Gemini co-founder: The new crown virus pandemic will become a historic turning point for Bitcoin

Cameron Winklevoss, co-founder and entrepreneur of crypto exchange Gemini, tweeted that the New Crown Virus pandemic will become a historic turning point for Bitcoin.

Winklevoss suggested that its Twitter fans continue to hold bitcoin, suggesting that bitcoin will change dramatically in the current situation.

His optimism echoes the views of many well-known people in the industry.

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Hypersheet co-founder and on-chain analyst Willy Woo said on Twitter that Bitcoin is looking for a bottom, and once it hits the bottom, a strong bullish trend will come. The economic environment in the next few years will make Bitcoin a real player.

Fundstrat co-founder and Wall Street analyst Tom Lee delivered a speech at the 2020 Blockchain Economic Conference, saying that blockchain and cryptocurrencies are important technologies that will impact the traditional financial industry in the next 20 years. He believes that the pandemic of the new crown virus is increasing the demand for Bitcoin and other safe-haven assets.

The market seems to confirm Tom Lee's theory that the unprecedented money printing strategy only slowly boosted the sentiment of the stock market. The stock market did not rebound immediately, and it is still in a loss state so far.

As the halving event approaches, it is helpful to analyze the trading volume and trading patterns. From a technical point of view, the current price of bitcoin is a good investment opportunity. According to glassnode data, as of last Saturday, bitcoin bookmakers holding at least 1,000 BTC have risen to their highest point in more than two years. This shows that investors are still optimistic about Bitcoin's future prospects.

Image source: Pixabay

Author: May

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