CoinShares’ chief strategy officer Meltem Demirors believes that Bitcoin is on course to setting up over the next few months. Additionally, Meltem Demirors notes that investor’s major capital are entering in the largest crypto asset, bitcoin.
Furthermore, while on am interview with CNBC Television, the digital asset management firm executive Meltem Demirors explains the possible causes that can influence the bitcoin making moves for a massive spike in few months to come.
“Right now, we’re hearing rumblings around a potential Bitcoin ETF approval. That would be cash-settled, contract-based ETFs, but still,…” “…there’s a lot of ‘buy the rumor, sell the news behavior’ in crypto, that’s a big catalyst we’re looking at in Q4…”
“…There’s also not a lot of open longs in the Bitcoin position anymore,…” “…so we’re seeing a lot more firms taking on more bullish long calls, In fact, there are a number…” “…of six-figure long-dated option calls that are seeing some action going into the end of Q4 and early Q1.”
Platforms Buying Into Bitcoin
More so, Meltem Demirors also notes how the several variety range of platforms buying into the flagship cryptocurrency will potentially move the asset. Also, setting its growth in an uptrend motion heading toward the end of this year.
“And I think most importantly, honestly, is there’s a lot of cash sitting on the sidelines,…” “…and a lot of investors are now seriously contemplating an allocation to Bitcoin in their portfolios…”
“There are now so many different avenues through which to do that, whether it’s through a publicly listed investment vehicle, or through assets themselves”
“…on platforms like Coinbase, or Robinhood, or Square.
There [are] just an absolute plethora oaf options that are opening up the channel for retail and professional investors to get exposure to the asset class.”