According to John d’Agostino, the increase in the demand for bitcoin is caused by the depreciation of the US dollar and the distance of market participants from small technological startups:
“Bitcoin is traded on the basis of its technical characteristics, which are similar to those that have gold. This is: a scarce offer, immutability and sovereign mobility. ”
D’Agostino said that he was talking with brokers about assets, which can be considered as protection against panic in the markets and economic instability. According to him, among them investors have always called Bitcoin.
In the next few weeks, large institutions will continue to accumulate bitcoin, regarding it as a key hedge from risks, and retail investors will reduce positions, the analyst believes. There is a chance that the first cryptocurrency will be able to close in May in May $ 100,000, the expert suggested.
Earlier, the head of the Standard Chartered digital asset research department, Jeoffrey Kendrick, said that Bitcoin will rise in price, since the USA is the risk of independence to the Federal Reserve (FRS).
Source: Bits
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