"The value of bitcoin is still the same, it's still $100,000 and it's just 20 per cent off now because of risk and uncertainty," said Yellow, co-founder of market maker GSR and founder of cryptocurrency clearing house. "It's only a matter of time before bitcoin returns to the plateau. If we remove all uncertainty, bitcoin will appreciate. We're in a bull market."
Despite US President Donald Trump's sudden shift in support of the crypto industry, his administration's aggressive tariff policies have caused investors to flee, and bitcoin has also fallen by more than 20% from its all-time high set on January 20, the day of Trump's inauguration.
Meanwhile, investors are flocking to gold, which hit a new record of $3,000 an ounce in March, as the VIX, an index that measures expectations of market volatility, surged more than 50 per cent this month. "Bitcoin is not seen as a long-term asset in the eyes of institutions like gold," Sirkia said of bitcoin's investment properties.
GSR Lianchuang: It is only a matter of time before Bitcoin returns to the stable area, and the bull market is still ongoing
2025-03-18 05:58:24
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