Analyst: The current Bitcoin price relies on strategy support, and venture capital has not yet entered the market on a large scale
Empire analyst Jason Yanowitz pointed out that if we exclude MicroStrategy's Bitcoin purchases, the current cycle may still be in its early stages. The current Bitcoin price is entirely dependent on MicroStrategy's investment of over 20 billion dollars since the end of last year. The current market is still in the "player versus player" (PvP) stage, and venture capital has not yet entered on a large scale. Dan Matuszewski from CMS Holdings agrees with this view, stating that the impact of the 2022 bear market is still ongoing, and the market is lacking in basic liquidity, which cannot drive substantial funds into the market. Currently, apart from a "few selected targets," there has not been a large-scale inflow of funds. The debate about whether we have reached the top will become more and more intense. However, regardless of the cycle position, we must recognize that the new regulatory regime has just begun, and its policies may become a catalyst for the future.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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