A senior crypto market analyst with social trading platform eToro Mati Greenspan has indicated that at least $3 billion is on the verge of being pumped into Bitcoin (BTC), and other cryptocurrencies.
Nearly $3 billion ready to flow into BTC and alts. https://t.co/kWTNCtbyZM
— Mati Greenspan (@MatiGreenspan) April 5, 2019
This amount is expected to come from funds held in stablecoins which according to some people “never left crypto”. Greenspan backs the opinion that the money held in major stablecoins such as Tether USDT with a current market cap of over $2 billion will come back into Bitcoin and altcoins as well, a position that some have disputed.
The current bullish trends as shown by Bitcoin and most other currencies, however, supports Greenspan’s position as a huge number of wallets were activated prior to the market surge, suggesting a definite inflow of money. This has been confirmed by market intelligence company Flipside Crypto to be the sign of a bull run which the market is already in.
Although some have tried to dispute the possibility of a bull run, all key metrics point to the fact that it is imminent. In fact, some skeptics have admitted that Bitcoin and the market at large is only heading to one direction – up! This shows that indeed crypto traders now have a reason to smile.
The potential inflow of $3 billion will significantly push the bull market forward and make the future even brighter. While there are indications that the trend has just started and many experts have confirmed it, this is potentially a huge contribution to the sustenance of the market.
So far, Bitcoin has been hovering over $5,100 will a few minor declines below the support level, but the signs show it is not likely to drop significantly neither will it stay under $5,100 for long. It is currently trading at $5,189 with a green glow that may continue.
A few of the top ten cryptos are currently in the reds but it is marginal and may not last long. Generally, the market is on a bullish move and we are set to see even better days.