2024

Bitcoin

Squawk

Portfolio manager, Fairlead Strategies projects a long-term price growth in Bitcoin (BTC) despite the recent market downtrend. The company sees future growth as well as a belief that an amount of Bitcoin should be on portfolios. This year, institutional investment in crypto assets picked up with firms increasing exposures while supporting an upward swing. 
<h2 id="strong-fairlead-backs-bitcoin-recovery-strong">Fairlead Backs Bitcoin Recovery</h2> 
Bitcoin price has dropped in the last couple of weeks amid the German government’s sale of seized BTC and Mt Gox creditor’s repayment. In a recent CNBC interview, Fairlead’s founder Katie Stockton projected the long-term trend of Bitcoin. According to Stockton, Fairlead are a big believer in users with a small percentage of portfolios in the crypto market leader.&nbsp; 
<blockquote class="twitter-tweet" data-media-max-width="560"> 
 “Bitcoin has broken some support suggesting we may see a trading range to the downside, but the trend long-term is still to the upside,” says Fairlead Strategies Founder Katie Stockton. <a rel="nofollow" href="https://t.co/wuTJapC4gV">pic.twitter.com/wuTJapC4gV</a> 
 — Squawk Box (@SquawkCNBC) <a rel="nofollow" href="https://twitter.com/SquawkCNBC/status/1810304346094973152?ref_src=twsrc%5Etfw">July 8, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
“… still some downside from here but still within a long-term uptrend. We’re big believers of having a small percentage of a portfolio in Bitcoin and regardless of the price action, we still have the long-term price on our side.” 
Commenting on the recent <a href="https://coingape.com/trending/crypto-assets-bearish-outlook-is-a-reversal-imminent/" target="_blank" rel="noopener">bearish outlook</a>, she explained that the correlation between stocks and Bitcoin increased but recently, BTC and crypto plummeted breaking support levels. Falling below the $60,000 level, fluctuations in the asset have led to a ripple effect in other cryptocurrencies. Stockton, though positive about the future growth of the market, highlighted the recent downtrend. At press time, <a rel="nofollow" href="https://www.google.com/search?q=coingape.com+bitcoin+price&amp;rlz=1CDGOYI_enNG981NG981&amp;oq=coingape.com+bitc&amp;aqs=chrome.0.69i59j69i57j69i59j69i60l3.4838j0j4&amp;hl=en-US&amp;sourceid=chrome-mobile&amp;ie=UTF-8" target="_blank">BTC</a> trades at $56,270, a 1.3% decline in the last 24 hours. This month, the asset’s price dropped below $55,000 with outflows hitting billions. 
<h2 id="span-style-font-weight-400-strong-institutions-tilt-to-the-market-strong-span">Institutions Tilt to The Market</h2> 
This year, institutional inflow to Bitcoin has hit new highs following the approval of spot ETFs by the Securities and Exchange Commission (<a href="https://coingape.com/news/liveblog/bitcoin-etf-news-live-today-blackrock-vaneck-grayscale-spot-btc-etf-approval-latest-updates-10-january-2024/" target="_blank" rel="noopener">SEC</a>). Inflows to these funds saw the asset’s price breach a new all-time high above $73,000. Consequently, traditional finance firms increased their exposure to the market through these investment windows. Despite a bearish outlook due to price fluctuations, holders remain positive towards a bull run because of the presence of institutional players. 
Also Read: <a href="https://coingape.com/bitcoin-miner-bitfarms-appoints-new-ceo-amid-riot-takeover-bid/" target="_blank" rel="noopener">BTC Miner Bitfarms Appoints New CEO Amid Riot Takeover Bid</a> 
The post <a href="https://coingape.com/fairlead-tips-long-term-bitcoin-growth-suggest-exposure-in-portfolios/">Fairlead Tips Long-Term Bitcoin Growth, Suggest Exposure in Portfolios</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Fairlead Tips Long-Term Bitcoin Growth, Suggest Exposure in Portfolios

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