Crypto analysts at Bitwise predict that after the US presidential elections, regardless of the outcome, the first cryptocurrency will "enter the White House." Why is the crypto think tank so confident that the moment of glory is arriving for Bitcoin and other digital assets? No wonder, investors welcome this bullish scenario.
Bitwise experts believe that more benign fundamentals are currently forming for cryptocurrencies on a global scale than previously. The reasons include worldwide monetary easing by major central banks and the inflow of additional liquidity into the markets.
Moreover, broader inflows into Bitcoin spot ETFs will help the flagship cryptocurrency reach new all-time highs. Other crypto assets will quickly follow suit and will also develop the overall bullish trend, Bitwise suggests.
A large number of blockchain-based solutions will begin to scale up in the coming months, analysts add. This will attract billions of dollars to the crypto market from major investment funds and international companies.
Bitwise experts discovered an additional catalyst for the growth of the crypto industry: the increasing number of large banks. Leading financial institutions are expected to offer corporate and private clients services of storing digital currencies.
Interestingly, Matt Hougan, Chief Investment Officer at Bitwise, noted that policymakers should "get out of Bitcoin's way." He reckons that without the intrusion of financial watchdogs, Bitcoin is set to develop a long-term rally.
