The QCP Capital said that the first cryptocurrency was able to keep the position at $ 110,000 due to the support from the influx of capital in spot exchange funds for Bitcoin.
“On the one hand, the institutional demand for cryptocurrencies remains high, as evidenced by a stable inflow of investment in Bitcoin-ETF. On the other hand, political risks and inflationary fears create the background of uncertainty in the industry, ”QCP Capital experts explained their point of view.
At the same time, prolonged economic uncertainty can strengthen the attractiveness of the first cryptocurrency as a key tool for inflation protection, analysts suggested.
In the short term, cryptocurrency markets may experience short pressure, but in the future it is able to benefit from the flight of investors in virtual assets if the fears of the recession in the United States due to the inconsistent economic policy of the White House administration will intensify, the QCP Capital noted.
Earlier, experts interviewed by Coindesk reported that, unlike the beginning of the year, the industry has now formed a stronger foundation for the growth of the first cryptocurrency far beyond the limits of $ 100,000.
Source: Bits
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