Despite the current bearish trend in the cryptocurrency market, many investors remain optimistic about the future. This is the case of the CEO of Rockefeller International, one of the largest financial asset managers in the world. According to him, there is no doubt that the price of bitcoin will start to rise again.
Bitcoin will rise from its ashes
Ruchir Sharma, CEO of Rockefeller International, has a relentless belief in bitcoin. More precisely, he believes, the pioneer of cryptocurrencies will make a strong return to the market.
In fact, the latter believes that the bearish momentum is part of a normal progression process. Therefore, the bear market held necessary to enable weak cryptocurrencies to dissolve. Basically, a very particular way to de-identify crypto-bullshits.
Moreover, Morgan Stanley’s former key strategists suggest that the recent rise in the crypto – asset market is a bubble. As a result, when this breaks out, only bitcoin will stand out by maintaining a bullish trajectory.
“We need to end the surplus, then we can see Bitcoin and cryptocurrencies as a stable asset. But now he’s caught up in this speculative mania. […] It’s just a matter of time »said Sharma.
Sharma also claims that the actions taken by the U.S. Federal Reserve (FED) are a major obstacle to the rise of bitcoin and all other cryptocurrencies.
How will BTC develop?
With his expertise, the fund manager believes that the BTC is set up in line with Amazon’s view of the internet bubble. Moreover, he argues that bitcoin has every chance of disrupting dollar hegemony. In fact, Sharma thinks that all green tokens for BTC are a currency in their own right on the international stage.
However, the next half of the year is likely to be a threshold period for BTC and its outcome will be highly dependent on currency reforms. So its price will probably decrease before it recovers the crop.
“I am not ready to say that bitcoin and cryptocurrencies have gone extinct yet. The US bear market regime, which is driving risk appetite around the world, is still very much in place. ”he added.
The recent rise in bitcoin has raised a lot of optimism in the community. In fact, on July 8, BTC hit $ 22,181, a high of almost nine months. Currently, the crypto is trading around $ 20,835. This corresponds to a fall of about 3.67% over the last 24 hours.
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I came across a blockchain out of curiosity and stayed with it out of passion. I was amazed at the possibilities it offers through its various use cases. With my pen, I hope to help democratize this technology and show how it can help make the world a better place.