$100 Billion Bull Run Predicted for Bitcoin and Other Major Cryptocurrencies
Bitcoin (BTC +1.2%), Ethereum and other major cryptocurrencies have rocketed into 2023, soaring despite growing fears the U.S. could be waging a “quiet” war on crypto.
The bitcoin price topped $25,000 per bitcoin, up 50% since the beginning of the year, helping to boost the Ethereum price and adding over $100 billion to the combined crypto market—including BNB (BNB +1.7%), XRP (XRP +1.4%), Cardano, Dogecoin, Polygon and Solana. Now, the cofounder of bitcoin and crypto exchange Gemini, Cameron Winklevoss of Facebook-founding fame, has issued a “bull run” price prediction—warning the U.S. can either “embrace [crypto] or be left behind.”
The last bitcoin bull run turned into a bitter crypto winter in late 2021, with the bitcoin price crashing to under $16,000 per bitcoin from a peak of almost $70,000. The combined crypto market, which reached $3 trillion in November 2021, saw $2 trillion in value wiped away in just 12 months.
Cameron Winklevoss made his “next bull run” bitcoin price prediction just hours before Hong Kong’s securities regulator announced plans to allow retail investors to trade bitcoin, Ethereum and other major cryptocurrencies later this year under a new crypto exchange licensing regime.
U.S. regulators are meanwhile cracking down on bitcoin, Ethereum, cryptocurrencies and crypto companies in the wake of the shock FTX collapse last year that sent shockwaves through the crypto market. The U.S. Securities and Exchange Commission (SEC) has been accused of waging war on bitcoin and crypto by cutting the industry off from banking services—branded “Operation Choke Point 2.0. Last week, Singapore-based DBS revealed its crypto trading volume almost doubled in 2022.
