So I have been thinking about this for some time now, we saw a huge wave of new adopters last year, mainly private people buying through say Coinbase, Bitfinex and Bitstamp. We also saw an increase in demand from South Korea and Japan. So the question is, what is the next phase in the adoption curve? Some speculate that we'll see ETFs being approved and thus allow pension funds and major institutional money to flow into Bitcoin, others say we'll see governments buying into Bitcoin triggering a financial arms race.
Frankly speaking, it will be so hard to speculate on where can the next volume of adopters be coming for Bitcoin market. But I partly agree that there can be an increase of approved ETFs this year and this time many can be coming outside of USA...so this can be the way for institutional money to come in. Still, I am inclined to believe that the biggest bulk of new players wills till be coming from many individuals especially from newly opened counties. Hopefully, Bitcoin can gain legal status in India and Russia which can create an avalanche of new Bitcoin owners and hodlers.