It’s been revealed that there is a special trigger that could boost the price of Bitcoin and also the investments that are pouring into BTC. Check out the latest reports below.
Bitcoin adoption and price to rise
At the moment of writing this article, BTC is trading in the green and the coin is priced at $19,129.
Crypto insider Kristin Smith revealed that there is a potential catalyst that could ignite the next Bitcoin (BTC) bull run.
Stabilising BTC’s price by long-term investors
In a new interview on CNBC’s Squawk Box, Smith, the executive director of the crypto lobbying group Blockchain Association, explained that Bitcoin’s current price is being stabilized by long-term investors.
He also added that retail traders have largely fled the digital asset markets due to bearish conditions.
It’s also important to note the fact 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.”
She continued and explained this:
“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.”
It’s important to note the fact that she also addressed the possibility of the US Congress adopting crypto regulations by the end of the year. This is said to be able to become a move that brings more institutional investments in Bitcoin.