Mark Connors, research director and analyst at investment firm 3IQ, explained the reasons behind the recent rise while stating that Bitcoin (BTC) retains its safe-haven status.
Mark Connors told CoinDesk TV’s “First Mover” on Thursday, March 30, that Bitcoin is still in the safe harbor era stressed that.
Research director behind the notable rises in the past months the global banking crisis and FTX founder Sam Bankman-Fried (SBF), Do Kwon He stressed that the “bad boys” of the cryptocurrency industry are getting caught, such as:
The impact of Do Kwon on the market and the effects of a multi-billion dollar scam like FTX on the market has created an unusual situation. But these two actors were caught and it was over. That’s why Bitcoin is up 63% this year.
Connors, in this process bitcoin And Ethereum (ETH) leading cryptocurrencies such as gold and other traditional investment instruments marked a significant positive departure.
On the other hand, Connors, who interpreted the strict and detailed policy of the Biden administration on cryptocurrencies differently from many analysts, stated that this administration is trying to control the crypto money industry, not kill it. According to the analyst, this attitude of the USA is based on a long-term thinking and ultimately corresponds to a positive indicator for cryptocurrencies.