On the 19th of February, 2023, Cameron Winklevoss posted a thread on Twitter saying that the next bull run will start in the East.
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't be stopped. That we know.
— Cameron Winklevoss (@cameron) February 19, 2023
Co-founder of Gemini, Cameron Winklevoss, referred to his prediction about Crypto’s outlook as a working thesis, stating that the next bull run would start in the East. It would be a reminder that crypto is a global asset class that cannot be stopped, and the US has only two options, either embrace it or be left behind.
It would not be far-fetched to say that Winklevoss’s comments stem from the unfolding situation of increased enforcement and crackdowns expected from United States regulators and related agencies like the Securities and Exchange Commission. The financial regulators are going after everything from stablecoins to staking to crypto custody, claiming it all comes under US securities laws.
He proceeded to add that any government that fails to offer clear rules and guidance will ultimately be left behind and, in turn, miss out on shaping and being a foundational part of the future financial infrastructure of the world. Saying that this is the most significant period of growth since the commercial Internet came into existence.
Gemini co-founder Winklevoss is neither the first nor last to suggest that the United States’ approach to crypto will drive away the industry and plunge it to the ground. He is also not the only person predicting that Asia will play a vital role in the next crypto growth cycle.
Coinbase CEO and co-founder Brian Armstrong stated on Feb.9 that the stringent actions from U.S. regulators, including the SEC, have massive potential to drive crypto businesses further offshore. Also, at the beginning of the year, an independent market analyst, dubbed GCR, used Twitter to prophesy that “China and Asia, in general, will fuel the next run.”
According to Chainalysis, Central and Southern Asia and Oceania (CSAO) was recorded as 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. CSAO was also home to seven of the top 20 countries in 2022’s index, including Vietnam, which ranked number one, followed by the Philippines, Thailand, Nepal, and Indonesia.
It will indeed take quite some time to melt through the Western cynicism toward the crypto space, but the East is ascending and yearning to soar even higher every day.
