{"id":10486,"date":"2023-02-20T06:03:04","date_gmt":"2023-02-20T06:03:04","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=10486"},"modified":"2023-02-20T06:03:05","modified_gmt":"2023-02-20T06:03:05","slug":"cryptos-next-bull-run-will-come-from-the-east-gemini-co-founder","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=10486","title":{"rendered":"Crypto\u2019s next bull run will come from the East: Gemini co-founder"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Crypto\u2019s next bull run will start in Asia, according to Cameron Winklevoss, an American investor and co-founder of crypto exchange Gemini.<\/p>\n<p>His comments have come amid an increase in enforcement action and looming crackdowns from United States regulators, including the Securities and Exchange Commission.<\/p>\n<p>\u201cMy working thesis atm is that the next bull run is going to start in the East,\u201d Winklevoss\u00a0said\u00a0in a tweet on Feb. 19. <\/p>\n<p>\u201cIt will be a humbling reminder that crypto is a global asset class and that the West, really the US, always only ever had two options: embrace it or be left behind.\u201d<\/p>\n<p>\u201cIt can\u2019t be stopped. That we know,\u201d he added.<\/p>\n<p>According to Chainalysis, Central &amp; Southern Asia and Oceania (CSAO) was the third largest cryptocurrency market in its index for 2022. Citizens from these areas received $932 billion in cryptocurrency value from July 2021 to June 2022. <\/p>\n<p>CSAO was also home to seven of the top 20 countries in 2022\u2019s index: Vietnam (1), the Philippines (2), India (4), Pakistan (6), Thailand (8), Nepal (16), and Indonesia (20).<\/p>\n<p lang=\"en\" dir=\"ltr\">My working thesis atm is that the next bull run is going to start in the East. It will be a humbling reminder that crypto is a global asset class and that the West, really the US, always only ever had two options: embrace it or be left behind. It can&#8217;t be stopped. That we know.<\/p>\n<p>\u2014 Cameron Winklevoss (@cameron) February 19, 2023<\/p>\n<p>In his Twitter thread, Winklevoss said that governments who fail to offer clear rules and sincere guidance on crypto will be \u201cleft in the dust,\u201d and miss out on \u201cthe greatest period of growth since the rise of the commercial Internet,\u201d adding: <\/p>\n<p>\u201cAnd it will mean missing out on shaping and being a foundational part of the future financial infrastructure of this world (and beyond).\u201d<\/p>\n<p>Winklevoss is neither the first, nor last, to suggest that the United States\u2019 approach to crypto will drive away the industry, or that\u00a0Asia could kick off the next crypto growth cycle.<\/p>\n<p>Coinbase CEO and co-founder Brian Armstrong said the stringent actions from U.S. regulators, including the SEC, could further drive crypto businesses offshore.<\/p>\n<p>Meanwhile, an independent market analyst on Twitter \u2014 known as GCR \u2014 has also prophesied that \u201cChina, (and Asia in general) will fuel the next run,\u201d in a Jan. 8 post to their 147,300 followers.<\/p>\n<p>\u201cIt will take quite some time to melt Western cynicism towards this space, but the East is ascending and yearning to flex.\u201d<\/p>\n<p lang=\"en\" dir=\"ltr\">I believe China, (and Asia in general) will fuel the next run<\/p>\n<p>It will take quite some time to melt Western cynicism towards this space, but the East is ascending and yearning to flex<\/p>\n<p>You should be hanging out in WeChat<br \/>Many future pumps will be on coins none of your circle know<\/p>\n<p>\u2014 GCR (@GCRClassic) January 9, 2023<\/p>\n<p>Arthur Hayes, the former CEO of crypto derivatives giant BitMEX,\u00a0made a prediction last October\u00a0that the next bull run will start when China moves back into the market and went one step further to say Hong Kong has a vital part to play in this process. <\/p>\n<p>Hayes argued that Hong Kong might become the testing ground for Beijing to experiment with crypto markets and act as a hub for Chinese capital to find its way into the global crypto markets.<\/p>\n<p>At the time, he said \u201cChina has not left crypto \u2014 it has just been dormant.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Hong Kong wants to become crypto hub despite industry crisis<\/em><\/strong><\/p>\n<p>Earlier this year, Hong Kong&#8217;s financial secretary, Paul Chan made a Jan. 9 speech at the POW&#8217;ER Hong Kong Web3 Innovators Summit, where he revealed lawmakers passed legislation to set up a licensing system for virtual asset service providers in December.<\/p>\n<p lang=\"en\" dir=\"ltr\">The China coin narrative has flipped regulatory FUD on its head<\/p>\n<p>The more actions US takes against crypto, the more the narrative is reinforced and induces more shorts to enter the market that need to buy back higher<\/p>\n<p>Bullish FUD<\/p>\n<p>\u2014 Andrew Kang (@Rewkang) February 19, 2023<\/p>\n<p>As a result of the changes in legislation, a \u201cChinese Coins Pump\u201d narrative has been gaining traction as speculation grows over whether the regulatory easements in Hong Kong will lead to a massive surge for utility tokens of Asian focused exchanges.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/crypto-s-next-bull-run-will-come-from-the-east-gemini-co-founder\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto\u2019s next bull run will start in Asia, according to Cameron Winklevoss, an American investor and co-founder of crypto exchange Gemini. His comments have come amid an increase in enforcement action and looming crackdowns from United States regulators, including the Securities and Exchange Commission. \u201cMy working thesis atm is that the next bull run is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-10486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/10486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10486"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/10486\/revisions"}],"predecessor-version":[{"id":10488,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/10486\/revisions\/10488"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/10487"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}