Grayscale: Bitcoin prepares for a historic breakthrough

by in Cryptocurrency News

Bitcoin

The Grayscale Investments report says that the current situation of bitcoin resembles the situation of 2016, that is, preparation for a historical breakthrough.

Fundamental indicators of BTC continue to improve, which is undoubtedly one of the key drivers of asset value growth.

The authors of the study predict that the demand for Bitcoin will increase as global inflation accelerates. The main advantage of cryptocurrency is its limited emission.

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At the same time, a trend has been noticed for investors to refuse short-term speculation in prices for this asset. More and more traders prefer to switch to long-term storage of bitcoin. The number of coins on exchanges recently dropped to their lowest level since the fall of 2018. Besides, Grayscale Investments points to a record high activity of bitcoin addresses. Analysts noted that the BTC network continues to expand, leading to an increase in the number of daily transactions.

The US economy is stimulated by a systematic injection of dollars. However, the inclusion of the Fed's printing press is leading the financial sector of not only this country but the rest of the world to dire consequences. The dollar will depreciate in the medium term, which is already prompting investors to switch to bitcoin.

The arrival of institutional capital is a particularly important factor for the cryptosphere. Players like Paul Tudor Jones have begun to recognize the potential of BTC and trust this asset with a portion of their savings.