Cryptocurrencies: 6452 / Markets: 40291 Market Cap: 24h Vol:
Seeking Alpha
2021-03-01 17:59:03

Supply Constraints, Herd Mentality, And Bitcoin Prices

After hitting record highs above $56,800, weakness in cryptocurrency markets has been undeniable and BTC-USD has encountered losses of more than 25% in just one week.Recent pullbacks from the highs seem to have emboldened crypto bears making the argument that bitcoin is nothing more than the next “flavor of the week.”.These events show that a battle is being fought between the economists and the hedge fund managers that have reversed the bearish stance and started buying bitcoin assets feverishly.As a result, there's an immovable object (historical regulatory tendencies of governments and central banks) facing an unstoppable force (rising adoption of cryptocurrency assets at the institutional level).We think that emerging supply constraints and underlying price momentum are simply too significant to ignore and we expect to see new record highs in BTC-USD as we move into the second half of 2021.

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer