New Bull Run of Crypto Markets Could Come from Asia
Cameron Winklevoss, co-founder of the renowned cryptocurrency exchange Gemini and American investor, believes that Asia could drive cryptocurrency’s next booming season. His points were made when United States watchdogs such as the Securities and Exchange Commission began to take stricter enforcement actions against cryptos.
On Feb. 19th, Cameron Winklevoss stated in a tweet: “My current hypothesis is that the upcoming bull run will begin in the East and serve as an eye-opening reminder of how cryptocurrency is a worldwide asset class – with the West (in particular, America) having no other option than to embrace it or risk being left behind.” He declared, “It can’t be stopped; we know this for sure.”
The Central and South Asian Market Is the Third Largest Crypto Market in the World
Chainalysis recently reported that Central & Southern Asia and Oceania (CSAO) was the third largest cryptocurrency market in their 2022 index. Every citizen from this region experienced an increase of $932 billion in terms of cryptocurrency value between July 2021 to June 2022. CSAO also had seven countries among the top 20 indexes; Vietnam, Philippines, India, Pakistan, Thailand, Nepal, and Indonesia, being at positions 1st, 2nd, 4th, 6th, 8th, 16th, and 20th, respectively, on this index.
In a recent tweet, the Winklevoss twins issued a warning to governments who lack clear regulations and guidance on cryptocurrencies: those that don’t act quickly will miss out on “the greatest period of growth since the rise of the commercial Internet,” along with an opportunity to shape and be part of future world financial infrastructures. This sentiment is echoed by many in both US-based and Asian crypto circles, who argue that Asia could become home to the next wave of cryptocurrency expansion. It’s time for countries worldwide to recognize this potential before they are left behind!
China’s Re-entering the Crypto Market Could Start a Massive Rise
Brian Armstrong, co-founder, and CEO of Coinbase, declared that the extreme measures from American law enforcement agencies like the SEC might coerce cryptocurrency companies to relocate abroad. An independent market analyst on Twitter (GCR) echoed this sentiment by predicting that “China (and Asia in general) will be the driving force behind the next rally” via a tweet sent out to his 147,300 followers. He continued with the words: “It may take some time before Westerners overcome their skepticism towards cryptos, but East is rising up and itching for opportunities.”
Last October, Arthur Hayes – the former CEO of the cryptocurrency derivatives giant BitMEX – confidently predicted that a new bull run would soon begin when China re-enters the arena. He further explained that Hong Kong could act as Beijing’s experimental testing ground for cryptocurrency markets and become an ideal conduit for Chinese capital to flow into global cryptocurrency ecosystems. At this juncture, he declared: “China has not deserted cryptocurrencies; it has been still.”