The last bear market in the cryptocurrency industry was quite painful. Most notably, it was marked by the collapse of cryptocurrency exchange FTX and the Terra LUNA ecosystem, and some of the fallout from the season is still being felt today.

In particular, overnight it became known that the US division of cryptocurrency exchange Binance refused to buy the assets of cryptocurrency broker Voyager, which went bankrupt due to the collapse of Three Arrows Capital. In December 2022, Binance US proposed the deal for $1.022 billion, and Voyager representatives approved the offer. The US Securities and Exchange Commission then opposed the acquisition, but a US bankruptcy judge cleared the deal.

Accordingly, Binance US employees have now refused to buy the assets themselves.

When will Bitcoin rise?

The March banking crisis in the US gave a boost to Bitcoin’s price, which reached $31,000 in April. According to experts, the banking problems only highlighted BTC’s status as a decentralised tool for capital accumulation and the best investment during the crisis.

According to Kendrick, it’s enough for optimistic expectations about the growth of the value of BTC, because ordinary people have much less confidence in banks in the current situation. Here’s a relevant rejoinder from the expert.

We see the potential for Bitcoin to grow to $100,000 by the end of 2024. “Cryptozyme”, which many are actively discussing, has already come to an end.

That is, experts believe that the level of $15,476 per Bitcoin, recorded in mid-November 2022, was the bottom for the first cryptocurrency. It is worth noting that since then, the BTC exchange rate has also managed to double, so this statement about the end of the crypto-zine does not seem too strange.

Some of the stackablecoin issues also played a significant role in Bitcoin’s appreciation. For example, the USDC had previously lost its peg to the US dollar for a while due to news of the presence of assets of the stablocoin issuer in the troubled SVB bank. Kendrick is confident that in such a situation investors have preferred BTC over all other coins in the market, given the credibility of the first cryptocurrency.

According to The Block’s sources, many other high-risk assets are set to continue their price rally on the back of the US Federal Reserve’s upcoming decision on the benchmark lending rate. The US Federal Reserve is expected to end its permanent rate hike soon, leading to a positive market reaction.

Still, an increase in the benchmark interest rate means more expensive credit, which in effect makes money more expensive. And if the rate stays stable or even goes down, access to money will be easier. And that will create a certain amount of capital surplus, which will also lead to investing in riskier assets like cryptocurrencies.

Finally, another important factor in the long-term growth of BTC is the upcoming halving of the cryptocurrency. This refers to the procedure of halving the fee for a mined block, which takes place every 210,000 blocks, or approximately four years. After each previous halving, a new bullish cycle for Bitcoin began, so experts are assuming a repeat of the scenario after the next halving in spring 2024.

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Robert Kiyosaki, author of the bestseller “Rich Dad, Poor Dad”, also expects Bitcoin to rebound from the nearest support level. The day before in his Twitter, he referred to a statement by Portfolio Shield founder Stephen Van Meter. He said a collapse in the value of gold was imminent, a scenario that Kiyosaki considers highly likely.

Recall that the price of gold soared to $ 2,000 an ounce on the background of the COVID-19 pandemic, the global economic crisis and geopolitical tensions. However, after reaching the highs, the price dynamics of the precious metal was no longer so bullish. Gold has fallen below the $1,700 line several times. And according to Van Meter, such weakness of the asset may indicate the completion of the bull run.

Under the scenario of the analyst, the price of gold may well collapse in half – up to the level of a thousand dollars. However, Kiyosaki expects that he will be able to buy the precious metal at a reduced price, reports CryptoPotato. He remains similarly optimistic about Bitcoin. Because BTC remains a good tool for long-term capital accumulation, the cryptocurrency should definitely be in every investor’s portfolio, Kiyosaki believes.

As for traditional currencies, they are not worthy of attention of market players; Mr.Kiyosaki thinks it is simply stupid to keep one’s assets in cash now. And it’s not hard to agree with him. Especially if we take as an example the situation with the Argentine peso, which has continued to collapse since 2018. As a result of the currency’s depreciation, Bitcoin is now at an all-time high.

Given what's happening, it's not hard to guess that it would be safer for Argentines to hold their own capital in cryptocurrency. Compared to the peso, Bitcoin seems like a much safer asset.


We think that the cryptocurrency market might have indeed already experienced its price bottom at the current stage of collapse. Still, BTC is now almost double from its local low in November 2022, and the prospects of the crypto-asset collapsing by more than 50 percent soon are hard to believe. However, the digital asset industry is a surprise industry, so investors and traders should traditionally be prepared for any eventuality.


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