US Senator Ted Cruz and the US investment company Pantera Capital, which specializes in hedge funds, shared in their recent statements and reports why they expect a bull in the Bitcoin price. As Kriptokoin.com, we are giving the details…
US senator explains why he is bullish on Bitcoin
US Senator Ted Cruz once again showed his support for Bitcoin. Bitcoin is gaining popularity among the ruling class and more politicians are emerging to support it. In a recent speech, Cruz laments the problems with government control over citizens’ financial property and praises Bitcoin for deterring it…
US Senator Ted Cruz spoke about why Bitcoin’ Pointing to recent problems in Canada that support i, he explains that the biggest reason behind this support is control. Canadian Prime Minister Justin Trudeau and the government are freezing the accounts of trucker protesters and their supporters, even to the point of freezing BTC accounts of these protesters and supporters. In this environment, the senator stated in his recent statements that “one of the reasons I am so optimistic about crypto and Bitcoin is that they are decentralized and uncontrollable.” He also revealed that he had purchased up to $50,000 in Bitcoin during the January crash.
Pantera Capital shares Bitcoin bull expectations
Despite the recent turbulence in the cryptocurrency market, Pantera Capital has predicted an increase in Bitcoin price in the coming weeks. According to the investment firm, ‘tax day’ could be one of the factors that will affect this. The company also adds that the cryptocurrency industry may soon be able to break away from traditional financial markets and start independent trading.
Pantera Capital, in its report titled “The Next Mega-Trade”, summarized the reasons why Bitcoin will continue its bull run soon. One of them is the upcoming “tax day”, which falls on April 18 this year. The company reminded that in 2013, 2017, 2020 and 2021 (the previous big increases), the price of Bitcoin increased significantly 35 days before the event. However, Bitcoin lost some value in those days as investors sold some assets to cover taxes. Pantera Capital also believes that the crypto market will emerge as a financial niche in its own right, meaning that fluctuations in fiat markets will no longer be a concern:
…In the coming weeks, cryptocurrencies will basically leave the traditional markets and trade on its own again. We think you’re going to start doing it.
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