Markets
No new retail investors will join the crypto market, says Top Trader – here’s what it thinks could change the situation
A closely followed trader says no new retail investors are joining the cryptocurrency market, but he believes an event could attract newcomers.
Trader alias The Flow Horse tells his 217,800 followers on social media platform X who are likely to take Bitcoin (Bitcoin) reaching six figures before new retail investors start entering the cryptocurrency market.
“No new retail investors are entering the market, despite the memecoin frenzy, which represents only a fraction of total market volumes and is more of a buzz on crypto Twitter than a significant trend. For the arrival of new retail investors, we need much higher prices in large-cap, easily accessible pairs Simply rising on-chain assets by 10,000% doesn’t entice retail investors, just like random pink sheet stocks that do the same don’t entice people to. betting on Robinhood or making headlines. We need big, easily accessible names to move significantly. For that reason, I think Bitcoin probably needs to get above $100,000 for people to notice it again.”
The dealer suggest the current cycle is also having difficulty attracting new entrants to the market, due to, among other factors, the scandal-plagued previous cycle.
“I think absentee people get free money stuffed in their pockets like the government [stimulus]:
1. Each cycle, unless there are generations apart, means fewer and fewer new people to grab, as at some point we reach a level of global penetration.
2. If someone isn’t already here, part of the reasoning is that they didn’t feel strongly compelled or provoked to do so. Usually this happens by seeing your friend/neighbor/colleague get stupid rich or the prices of assets that are in focus move much higher.
The excitement needs to reach the mainstream and it is reasonable to assume that we are still trying to distance ourselves from the bad memories and stigma associated with the previous cycle.
This cycle seems more about ideally capturing the larger, less price-sensitive passive types, for a more accretive type of growth (with exchange-traded funds).”
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