Harry Yeh, founder and managing partner of Quantum Fintech Group, believes that Bitcoin will grow 10 times due to the policies of the US Federal Reserve and the widespread adoption of stablecoins.
The market is starting to enter a bullish super-cycle, said Harry Yeh in a recent interview. Ye notes that, despite the current volatility, cryptocurrencies will rise in price as the community began to actively use stablecoins.
The managing partner of Quantum Fintech is confident that the US will not stop the printing press in the near future to support investors, and they will protect their capital by investing in cryptocurrencies. Ye suggests that in 2022, Bitcoin will start to grow again and will probably reach $400,000. The expert emphasizes that for the current market situation, it is quite expected that BTC will increase in price by 900%.
The founder of Quantum Fintech believes that the crypto market is at the very beginning of its journey and has huge prospects for growth. The current situation is different due to the role of stablecoins, which are now the most in demand in the crypto market and play a key role in cryptocurrency payments. According to Ye, stablecoins compensate for the shortcomings of assets such as bitcoin and ether:
“The cryptocurrency market is just teething right now. However, we are seeing something similar to the bullish trend of 2017. We are definitely at the beginning of a cycle, but it is more unique than the previous one. There were no stablecoins then, but now there are a huge number of them and the mass adoption of this instrument can push the market up.”
At the end of last year, Harry Ye urged crypto investors to be guided not only by the desire to protect capital from inflation, but also to take into account the benefits of specific currencies for the portfolio. Swiss Seba Bank CEO Guido Buhler believes that in 2022 there will be a massive influx of institutional investors into the crypto market, which will force bitcoin to rise in price to $75,000. At the same time, Doubleline Capital CEO and billionaire Jeffrey Gundlach believes that that even with the threat of an impending recession, it is not advisable to buy bitcoin at the current price. It is worth waiting for it to fall to $25,000.