As Bitcoin reached a new all-time high, Gemini co-founder Cameron Winklevoss suggested the real rally is yet to come.
Bitcoin (BTC) has still room to grow as the recent spike to a new all-time high was not driven by retail fear of missing out, Geminiโs co-founder Cameron Winklevoss speculates.
In an X post on Nov. 11, he rebuffed theories that the price spike above $80,000 was fueled by retail investors, implying that the surge was likely triggered by โsteady ETF demand.โ
โPeople buy ETFs, they donโt sell them. This is sticky HODL-like capital. Floor keeps rising.โ
Cameron Winklevoss
Although Winklevoss provided no timeframe nor scenario for retail tradersโ comeback, he noted that Bitcoinโs surge is barely the beginning of a new rally, though Winklevoss did not specify a timeline for when retail traders might return.
Cameron Winklevossโ comments echo expectations from other analysts and traders who expect that Bitcoinโs rally could push it past the $100,000 mark. Some, like Dan Tapiero, CEO of 1RoundTable Partners, expect Bitcoin could exceed $100,000, with Tapiero eyeing $350,000 in the long term.
However, some caution remains. CryptoQuant CEO Ki Young Ju warned of potential market corrections, citing โoverheatedโ indicators in Bitcoin futures. In a Nov. 9 post on X, he particularly noted that a correction could bring Bitcoinโs price down to $58,974 before the rally potentially extends.
As of press time, Bitcoin is trading at $80,974, with a market capitalization exceeding $1.6 trillion.
