Bitcoin Inflows Could Reach $130B In 2024, Says Crypto VC: 'What Is The Bear Argument Here?'
Portfolio Pulse from Murtuza Merchant
Andrew Kang of Mechanism Capital predicts Bitcoin inflows could reach $40-130 billion in 2024, highlighting underappreciation of global wealth's potential impact on crypto. Cryptoquant's CEO and Syncracy Capital's Daniel Cheung support bullish sentiments, citing factors like Bitcoin spot ETFs, investor resilience, and a favorable regulatory landscape. The absence of Bitcoin commercials during Super Bowl LVIII suggests the market's early stage, reinforcing the optimistic outlook for the next 12-24 months.
February 12, 2024 | 2:42 pm
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Bitcoin inflows are projected to reach $40-130 billion in 2024, with strong support from industry leaders and a positive regulatory environment, suggesting a bullish outlook.
The projection of substantial Bitcoin inflows by Andrew Kang, along with supportive statements from other industry leaders and a positive regulatory backdrop, indicates a strong bullish sentiment. This optimism, coupled with the mention of factors like Bitcoin spot ETFs and increased institutional buy-in, suggests a potential positive impact on Bitcoin's price in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100