The founder and general director of 10x Research, Markus Thielen, said that the growth of the first cryptocurrency is due to the growing deficit of the US State Budget and the fears of investors about the rapidly upcoming financial crisis.

Marcus Tilen noted that Bitcoin has turned into a tool for protecting against the irresponsible fiscal policy of the US authorities.

“The narrative has completely changed: no one else talks about the options for using blockchain or the technological prospects of bitcoin. He became a macroactive, insurance from uncontrolled government expenses and a growing state debt of the budget. Its growth is a direct reaction to the fact that the financial situation in the United States worsens much faster than expected, ”Tilen said.

According to him, the increase in the course of the first cryptocurrency and the flow of funds to the spotal ETF on Bitcoin indicates that the digital assets as a whole were very deeply built into the institutional financial environment.

From July 7 to July 11, Bitcoin was received by Bitcoin, $ 2.72 billion, and this is a fifth week in a row with a positive capital influx. A pure influx means that the volume of new funds of investors to funds exceeded the repayment of their shares, the expert said.

The trend for an increase in the cryptocurrency course will be preserved, although the correction periods are not excluded, but it will not be deep and long, the analyst summed up.

Earlier, analysts of the QCP Capital trading company reported that the Bitcoin market demonstrates “structural power” and positive dynamics due to the influence of two macroeconomic factors.