Get Ready for GREEN Day - Wall Street Bonuses May Spark ‘Crypto Buying Spree of Epic Proportions’
Wall Street is set to receive their bonuses on the 15th, which is reportedly going to be an all time high. Last year there was a spike in the cryptomarkets so therefore we are expecting yet another spike - perhaps much larger.
Wall Street Bonuses May Spark ‘Crypto Buying Spree of Epic Proportions’
http://bitcoinist.com/wall-street-bonuses-bitcoin-spree/
"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."
Source: http://bitcoinist.com/wall-street-bonuses-bitcoin-spree/
I guess we will see tomorrow! Been seeing too much red lately.
They will buy BTC + ETH via ETF/ETNs on regulated public stock exchanges so that their money is liquid and can move it to and from equities, bond and bullion. When other cryptos are traded on public regulated exchanges then they'll get more exposure. Even if there was a buying frenzy by these people....I'm not sure they would make that much difference to crypto prices.