K33 Research: Bitcoin is forming a strong foundation for long term rise

The recent rise in Bitcoin prices a few days ago was due to significant demand in the spot market, rather than speculation using borrowed funds, experts noted.

According to analysts, the average daily trading volume on centralized cryptocurrency exchanges increased by 51% — to $3.9 billion, which is a clear indicator of investor interest.

At the same time, K33 Research noted that they do not expect sharp fluctuations and a significant decline in the price of Bitcoin in May, which is traditionally considered a weak month in terms of price dynamics.

Due to the combination of high market demand, a balanced situation in derivatives, and a favorable geopolitical backdrop, the first cryptocurrency may demonstrate new historical highs this summer, experts concluded.

Earlier, SkyBridge Capital founder Anthony Scaramucci (Anthony Scaramucci) stated that Bitcoin is in the process of transformation, turning from a technological object of speculative investment into a mature international asset comparable to gold.