The investment company Pantera Capital said that BTC will rise in price due to US actions and the development of the blockchain industry. Analysts agreed with this and explained when to expect multiple price increases
The cryptocurrency market is just at the very beginning of growth, investment company Pantera Capital said in its official blog. The firm's analysts called for buying bitcoin and named two reasons for its upcoming price hike. The first is the US policy of issuing additional money supply. These measures are aimed at supporting the economy after the crisis caused by the pandemic, but lead to the depreciation of the dollar. In this regard, the rate of assets with limited emission will grow, they are confident in the company.
Analysts named the development of the industry as another reason for the future growth of the cryptocurrency market. As an example, they pointed to the explosive growth of the Decentralized Finance (DeFi) industry. Now in this sector, $ 10 billion worth of cryptocurrencies is blocked, although in January this figure hovered around $ 1 billion, and two years ago did not exceed $ 200 million.
Inflation in the dollar, the actions of the world's largest central banks, the demand for defensive assets and the development of blockchain technologies will have a strong positive impact on the rate of cryptocurrencies, agreed lead analyst at 8848 Invest Viktor Pershikov. He believes that digital assets are indeed at the initial stage of a new growth cycle, as a result of which the bitcoin rate could rise to $ 30,000-40,000.