Matrixport believes that bitcoin can rise in price to $35,000–36,000

Founder of Eight, Michael van de Poppe reached out to market participants and urged them to “take the money out of the banks and invest it in hard assets like gold, silver, bitcoin and other cryptocurrencies.”

“A bank is not a bank. You lend your money so that they can take excessive risks,” said the analyst.

According to Poppe, it’s time to adapt to the “decade of cryptocurrencies and commodities.” In another message, he noted that during the banking crisis, Bitcoin will show its strength. The prerequisite for this is a liquidity crisis, from which “Bitcoin will only get bigger.”

Analysts from Matrixport pointed to signs of the end of the period of raising the key rate in the US, which could be the main reason for the growth of bitcoin. The main crypto coin will grow by 20%, up to $35,000–36,000.

In early May, the Fed raised interest rates by 25 basis points to 5–5.25% per annum. Against this background, the bitcoin rate rose to $29,000.

The representative of the regulator announced a possible tightening of monetary policy. However, the banking crisis prompted investors to expect softer steps from the regulator.

Matrixport also cited the collapse of financial institutions, which requires cash injections and guarantees for bank buyers, as a factor in the end of the rate hike period. Experts pointed to the approaching breakdown of the upper edge of the tapering wedge formation.

In addition to the actions of the Fed as a prerequisite for the growth of BTC, experts noted the resumption of the repurchase of their shares by companies from the market after the end of the period for submitting quarterly reports.

“This will continue to be a tailwind for equities and risk assets in general,” Matrixport explained.

Analysts noted the decline in trading volume, pointing to “limited resistance on the way up.”