After two years of uncertainty since the 2017 mega race, the signals are they look promising For a big rally in the crypto market, says co-founder of the crypto market analysis company Data on digital assets.
“I think a bullish period is inevitable”CEO Mike Alfred said Cointelegraph.
Corona virus shakes the global economy
Coronavirus prevention measures for several months, including closing deals and ordering people to stay at home have hurt the global economy. High unemployment means less costs than people They try to satisfy their household needs.
Long periods of reduced income also announce the closing of deals. The main financial markets They have united in the middle of the US government’s stimulus package. USA Several other nations have campaigned for similar plans.
This government action, combined with improved cryptocurrency infrastructure, This could boost crypto asset prices and trigger a new bull run. Alfred said:
“The convergence of factors that can drive this cycle includes unprecedented recent interventions by tax and monetary authorities around the world and the rapid improvement of the trading, credit and custody infrastructure.”
Economic uncertainty creates interest in cryptocurrencies
Till date, Several multinational companies have also entered the crypto industry. including hedge fund founder Paul Tudor Jones.
“We see these big traditional hedge funds begin to make a significant contribution to the industry and retail interest has increased, as search traffic shows, “said Alfred.
“The interest is real … literally I have 20 friends who have contacted me in the past month because they’re interested in dealing with cryptocurrencies, “he added.
Contact with Alfred too includes older generations They bought in key markets before they recently understood the new asset class.
The past few weeks have also led pessimists to change their minds as JPMorgan Chase submitted his consent a bold contrast for the Gemini and Coinbase exchanges to 2017 when the bank’s CEO, Jamie Dimon, called Bitcoin a scam.