Crypto insider says one catalyst will increase investments in Bitcoin and trigger price surge in BTC
2022/10/23 04:03
According to DailyHodl, crypto insider Kristin Smith is unveiling a possible catalyst that could ignite the next Bitcoin (BTC) bull run.
In a new interview on CNBC’s Squawk Box, Smith, the executive director of the crypto lobbying group Blockchain Association, says that Bitcoin’s current price is being stabilized by long-term investors while adding that retail traders have largely fled the digital asset markets due to bearish conditions.
Smith, however, says that retail investors will likely return once the economy gathers steam.
“I think Bitcoin has been largely stable for a couple of reasons. One, you have the retail investor that has largely exited investing in Bitcoin… People are worried about paying for gas. They’re worried about paying for groceries. They don’t have the ability to put extra money away by investing in Bitcoin at the moment.
But I do think that the investors that are in there right now are holding out for a future date. They’re in it for the long run. And I think as we start to see the economy turn around and people putting more risk into their investment portfolios, we’re going to see the investment in Bitcoin rise and subsequently the price.”
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