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Wall Street Bonuses May Spark ‘Crypto Buying Spree of Epic Proportions’

Wilma Woo

Wilma Woo | Jan 09, 2018 | 08:30

Wall street Bitcoin

Wall Street Bonuses May Spark ‘Crypto Buying Spree of Epic Proportions’

Wilma Woo

Wilma Woo | Jan 09, 2018 | 08:30


Digital Currency Group director Meltem Demirors has forecast an “explosion” of buying across cryptocurrency as Wall Street bankers spend their bonuses.


‘A Buying Spree Of Epic Proportions’ January 15

Speaking to Business Insider late last week, Demirors echoed earlier tweets in which he expected a giant influx of cash from traditional investors with “cash a plenty to put into crypto.”

“Get ready for an explosion,” she told the publication.

Cryptocurrency markets are broadly down this week after the latest altcoin spike fizzled out and Ripple’s extraordinary growth revised downwards.

Bitcoin’s market share remains at an all-time low, with Ripple attention in particular resulting in executives insinuating this week the largest cryptocurrency may not be the ultimate asset investors assume.

As with the run-up to Bitcoin futures trading early December, Demirors suggests however that Wall Street cash could turn its price fortunes around once again.

“When wall st bonuses hit bank accounts on January 15, i imagine we’ll see a crypto buying spree of epic proportions,” she added January 4.

The comments received a warm reception on social media.

Gold To Be ‘Vinyl Bitcoin’ In 2018 – Keiser

A more sustained moonshot in Bitcoin meanwhile could have beneficial effects on beleaguered gold, Max Keiser forecast on the last episode of his Keiser Report December 30.

Bitcoin is a Perfect Currency, Beyond the Reach of Any Nation-State or Cooperative Effort to Defeat It - Max Keiser

Traditionally considered to have suffered from investors piling into Bitcoin, the cryptocurrency’s very success could see gold “hit $2300 or $2400 in 2018,” Keiser predicted.

“Gold will be seen as an authentic version of Bitcoin, ironically enough,” he continued, “it’ll be the vinyl version of Bitcoin.”

The millennial generation will be keen to amass and use gold as a result of “huge profits” from cryptocurrency.

Keiser declined to give a Bitcoin price target for the forthcoming year, repeating an original prediction from several years previously when Bitcoin was worth $3, in which he eyed $100,000 per coin as a likely future value.

What do you think about Meltem Demirors’ and Max Keiser’s predictions? Let us know in the comments below!


Images courtesy of Shutterstock, Twitter, dcg.co


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