Mati Greenspan, senior analyst at eToro, recently took to Twitter to explain why he thinks that $3 billion is ready to flow into Bitcoin, and the altcoins.
The eToro senior market analyst Mati Greenspan, tweeted out to his 16.3K twitter followers that $3 billion is ready to flow into Bitcoin and the altcoins.
Nearly $3 billion ready to flow into BTC and alts. https://t.co/kWTNCtbyZM
— Mati Greenspan (@MatiGreenspan) April 5, 2019
Greenspan reacted to a message from Jonathan Habicht, a researcher in cryptocurrencies and blockchain technology, who pointed to the total amount of money currently being stored in stablecoins, such as Tether, which could turn the market around and push towards all-time-highs at any time.
Tether alone, currently the number 10 and largest stablecoin on the market, has almost $2.1 billion parked away.
However, not everyone is convinced that this is the case. Twitter user Mike Chapman dissagreed with Greenspan, pointing out that money parked in Tether, or any other stablecoin, may be virtually non-existent as traders rapidly move in and out of their positions.
What other people have said. Virtually no money is “parked” in tether, because according to volume metric more than 5x the total coins change hands every day.
— MikeC316 (@Mike_Chapman_) April 5, 2019
Recently Chepicap reported that the eToro analyst just became very bullish on Bitcoin, advocating a move up to $7000, adding that BTC could easily achieve this before hitting the first wall…
Are you frickin kidding me?! We haven’t even hit the first fib level yet.
Drawing the Fibonacci retracement tool from BTC’s ATH, we can see that this leg could easily take us up to $7,000 before hitting the first wall. pic.twitter.com/RZMSIMOysY
— Mati Greenspan (@MatiGreenspan) April 4, 2019
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