Why Bitcoin's Next Market Cycle May Look Very Different – BloFin CEO
BTC when published $80,477Now $80,598 ▲ +0.15% since it was published
Bitcoin is struggling around $80,000 as ETF demand swings and rising oil prices complicate the outlook for interest rates. Yet BloFin CEO Matt Hu believes the cryptocurrency’s future crashes could become less severe. Speaking to BeInCrypto at TOKEN2049 in Singapore earlier this month, Hu explained how traditional investors are changing Bitcoin, what could drive its next rally, and why altcoins may be left behind. The latest market turmoil is putting those arguments to the test. Are Bitcoin’s Boom-and-Bust Cycles Becoming Less Severe? “The biggest change is Bitcoin’s ownership base.” According to Hu, ETFs and corporate treasuries have brought in investors with longer investment horizons, potentially reducing panic selling during downturns.
First reported by BeInCrypto. This page is a short excerpt; the full text is theirs.
