Bob Ras, co-founder of blockchain company Sologenic, said in an interview that as big banks fail, it seems increasingly clear that these investors are looking to Bitcoin as a hedge because of its decentralized, censorship-resistant nature and lack of counterparty risk.
There is a growing expectation that the Federal Reserve will ease monetary policy, effectively injecting more liquidity into the market to support the financial system. Bitcoin is ahead of the curve in this context, foreshadowing a return to relatively low interest rates in the future.
He also predicted that Bitcoin could rise to $40,000 by the end of this year. There is evidence that more and more people and institutions are accumulating Bitcoin at low points, which actually translates into a supply shock. With few sellers left, any increase in demand will have a huge impact on prices. (Business Insider) #ETH2.0 #crypto2023
