Grayscale Foresees Crypto Bull Run Continuing Post US Election
CryptoNewsTerminal Staff19 Aug, 2024
Grayscale Foresees Crypto Bull Run Continuing Post US Election
Grayscale Research, a leading digital currency asset manager, recently released a report predicting the continuation of Bitcoin's bullish momentum, irrespective of the upcoming US presidential election outcome. According to the report, the value of the dollar could potentially experience a significant decline in the coming years, primarily driven by the monetary policies implemented by the new government. Consequently, Bitcoin and other cryptocurrencies could experience an influx of investment, driving their prices upward. Grayscale's Head of Research, Zach Pandl, remarked that "Bitcoin's long-term bullish momentum will continue, regardless of the outcome of the US presidential election." He further highlighted the potential for Bitcoin to outperform traditional fiat currencies in the face of a weakening dollar. This prediction aligns with the broader trend of institutional adoption of cryptocurrencies, as evidenced by the recent investments made by major companies like Square and MicroStrategy. As more traditional investors recognize the potential of digital assets, the demand for cryptocurrencies is likely to increase, further supporting their long-term growth prospects.
