According to Gromen, there is a possibility that the first cryptocurrency, without any restraining factors, will fall to $60,000. The interest of investment companies in the context of the US's confrontation with trading partners has shifted towards precious metals.
"If you are counting on institutional investors to raise the price of bitcoin from $90,000 to $150,000, this will not happen without any serious catalyst. Institutional investors do not act this way. They are not the right kind of fuel for bitcoin. They will sit and wait," says Gromen.
While global markets are living in a mode of trade conflicts and rising protectionism, large investors will prefer assets with a clear history of value preservation, explained the entrepreneur. In his opinion, in the current environment, Bitcoin has limited potential for demand recovery.
Pressure on the price of the first cryptocurrency remains strong and does not allow for a stable upward trend to form without fundamentally new drivers, and the process of restoring investor trust could stretch over several years, suggested the founder of FFTT.
Previously, analysts from the Derive platform stated that by the end of June, the price of Bitcoin could fall to $80,000, and the probability of such a scenario is about 30%.
