CryptoQuant believes that institutional entry into bitcoin will begin towards the end of 2023.
Analysts confirmed that the interest of funds in BTC remained weak against the backdrop of tightening the monetary policy of the Fed and accelerating inflation. But if the regulator refuses to raise the discount rate, then stocks and cryptocurrencies will again become attractive instruments for institutionalists, said CryptoQuant strategist Benjamin Brannan.
He believes that bitcoin is coming out of a bearish phase.
In the third and fourth quarters, we will see how big capital will begin to enter the digital currency more actively. This process is already being observed.
Brannan said:
I talked a lot with representatives of institutional investors. They say that financial institutions and wealthy people are ready to acquire bitcoin.
CryptoQuant strategist sees BTC as a safe-haven asset. In the long term, cryptocurrencies will add value as large investors gradually begin to realize its advantages over other assets.
