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

David Pokima
July 9, 2024
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Highlights

  • Fairlead Strategies points to a Bitcoin rebound following weeks in the red zone.
  • The firm tips on having an amount of Bitcoin in portfolios.
  • This year, bullish institutional investors projections and participation grow.

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.

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Fairlead Backs Bitcoin Recovery

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. 

“… 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 bearish outlook, 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, BTC 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.

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Institutions Tilt to The Market

This year, institutional inflow to Bitcoin has hit new highs following the approval of spot ETFs by the Securities and Exchange Commission (SEC). 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: BTC Miner Bitfarms Appoints New CEO Amid Riot Takeover Bid

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.