The founder of Ikigai cryptocurrency hedge fund Travis Kling believes that a small group of rich traders can push Bitcoins to new heights – investment platform has learned.
Kling bases on the data of its own analysis and on the information from other institutional investors. According to his opinion, there is a small group of “risky whales”, who have become the reason for recent raise of the first cryptocurrency rate.
“We believe in the existence of a relatively small group of experienced, wealthy and risky market participants, who have entered crypto industry for recent seven weeks”, – Kling noted.
He told, that these wealthy traders at certain moments conducted well coordinated series of cryptocurrency purchases. Quite possible, that exactly this group of whales became the reason for trend reversal, creating the basis for market growth. Wherein, Kling has noted that crypto market strongly depends on traders` mood.
Interesting, Kling thinks that initial impulse for cryptocurrency market recovery made US Federal Reserve, that in January of this year cancelled quantitative easing policy. He also considers that, if BTC rate exceeds the point in $10 000, “avalanche effect” will happen, which will quickly rise Bitcoin`s price to $20 000, or even to $30 000. However, it`s not clear on what stage these “risky whales” start getting rid of their bitcoin stocks.
At the end of last year Travis Kling expressed his opinion that exactly cryptocurrency would become the best and most effective asset in 2019