What market participants are saying about cryptocurrency

In 2024, Bitcoin reached the $100,000 threshold for the first time. However, after a brief period of euphoria earlier this year, the market entered a correction phase. At the same time, a growing number of governments are discussing the widespread integration of crypto assets and the creation of national reserves of $BTC . According to Gracy Chen, CEO of Bitget, market participants are likely to remain in a bearish cycle until around September or October of this year. "In a bear market, defensive assets like stablecoins and tokenized gold tend to perform better. Diversifying into such assets can help reduce risk and preserve capital until the market rebounds," noted Chen.

More than half of all digital assets launched in recent years on decentralized platforms have failed, according to a report by CoinGecko. Among the nearly 7 million tokens listed on GeckoTerminal since 2021, 3.7 million have stopped trading.

The accumulation of BTC by private companies leads to a constant process of "hyperbitcoinization," which could push the total market capitalization of the crypto asset to $100-200 trillion, said Adam Back, co-founder of Blockstream. In his view, the scale of adoption could be sufficient for most publicly traded companies to include BTC in their portfolios. "Buying bitcoin or using a balance sheet accumulation strategy is essentially a short arbitrage against fiat currency," Back said.