Bitcoin Weaker, But Factors Supporting Upswing Longer-Term Remain — Market Talk

Bitcoin edges down, but the factors that have supported the cryptocurrency on a fundamental level for years continue to stay in place, says Grayscale Research in a note. Head of research, Zach Pandl, says that there's still 3 big reasons for investors to be interested in crypto. He says "unchecked" government deficits continue to trend higher, making bitcoin ownership more attractive. Trading of perpetual stock futures on various blockchain has also supported the proliferation of cryptocurrencies into the mainstream, and there is also growing risk tolerance among young investors. This current period of low volumes and rangebound prices for bitcoin won't last, Pandl adds. ([email protected])