As we’ve seen many times before, when Bitcoin starts moving, more traders become interested in the market. This causes more investment and takes prices even higher. For many retail investors, “fear of missing out” will likely occur when the price passes a previous all-time high. As a report by Twitter-based cryptocurrency analyst CL (@CL207) notes, much of the investing public that drove the price close to $20,000 is not even paying attention to Bitcoin until mainstream media starts reporting on new all-time highs, let alone looking at stablecoins.Nearly $6 billion worth of stable coins ready to move into bitcoin and the alts at a moments notice. pic.twitter.com/ISvWMSZ5DQ
— Mati Greenspan (tweets ≠ financial advice) (@MatiGreenspan) January 30, 2020
Those with money sitting in stablecoins are not the general public that are thought to have “FOMO’d” in at $20,000. These cryptocurrency-literate investors will likely enter the market before “mom-and-pop investors” even take notice. Whilst that $6 billion extra in market capitalization won’t take Bitcoin back to its previous highs, it certainly won’t hurt.Bitcoin is in the stealth phase of its bull run. Usually public interest do not pick up until the previous all-time high has been smashed. pic.twitter.com/cFYogWFgXe
— CL (@CL207) June 25, 2019
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