Analysts at hedge fund SkyBridge Capital believe that investors need to stay in bitcoin despite the recent drop in bitcoin's value.
The attractiveness of BTC has dropped markedly due to the bearish trend that has dominated the market since mid-May.
Hedge fund manager Troy Gayesky urges players not to abandon cryptocurrency even amid the precious metals rally. Shortly, gold will add in price, as the Federal Reserve plans to reduce the purchase of assets.
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Together with the precious metal, we expect the bitcoin rate to strengthen, since the potential for its growth has not yet been exhausted, the expert from SkyBridge Capital emphasized. The hedge fund expects further dollar depreciation, which is why the demand for alternative instruments will increase in the long term.
SkyBridge Capital does not intend to give up Bitcoin. Since December last year, that is, since its inception, the giant's bitcoin fund has grown by 51.2%. Gold will also increase and by the end of 2021 the price of the metal will reach a new maximum, Gajesky predicts.
Today, a troy ounce of gold is trading at around $ 1900, bitcoin has fallen in price to $ 36,000.