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The founder of the investment fund Forest For The Trees (FFTT), Luke Gromen, said on the Coin Stories podcast that the crypto market is in vain counting on corporate investors. They will not help Bitcoin reach $150,000 this year, the businessman complained.
According to Gromen, there is a possibility that the first cryptocurrency, left without restraining factors, will fall to $60 000. Against the background of the confrontation between the United States and trading partners, the interest of investor companies has shifted towards precious metals.
“If you’re expecting institutional investors to push the price of Bitcoin from $90,000 to $150,000, it’s not going to happen without some kind of major catalyst. Institutional investors don’t do that. They are not the right wood for Bitcoin. They will sit and wait,” says Gromen.
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While global markets live in a regime of trade conflicts and growing protectionism, large investors will give preference to assets with a clear history of maintaining value, the entrepreneur explained. In his opinion, in the current environment, Bitcoin has limited potential for restoring demand.
The pressure on the rate of the first cryptocurrency remains strong and does not allow the formation of a stable upward trend without fundamentally new drivers, and the process of returning investor confidence may take several years, the founder of FFTT suggested.
Earlier, analysts from the Derive platform said that by the end of June the Bitcoin rate could fall to $80,000 and the probability of such a scenario is about 30%.
