Grayscale’s head of research said that Bitcoin may have bottomed, arguing that macro factors, such as interest rate decisions as increasingly driving the price action of this maturing asset class.
Crypto-focused asset manager Grayscale said that Bitcoin’s price may have bottomed earlier than the traditional four-year cycle, which would imply a cycle low in September or October.&
Grayscale’s head of research, Zach Pandl, argued that Bitcoin (BTC) has “grown up” as an asset and is increasingly driven by macroeconomic factors.&
“If the Fed forgoes rate hikes and economic growth holds up well, Bitcoin’s price may already have bottomed,” Pandl wrote in a Wednesday report.
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