Ivan Ermokhin: “Sanctions and trade wars may spur interest in cryptocurrencies and bitcoin growth”

"Bitcoin’s growth to a new all-time high is due to a combination of several factors: the development of ETF funds on cryptocurrencies and the growth of institutional investors' investments in bitcoin, the positive attitude of the US presidential administration to the crypto market, as well as the expectation of a key rate cut by the US Federal Reserve, which stimulates the search for new areas for investment.

In the near future, bitcoin will react to foreign policy events, including trade wars, as well as the increase/decrease in the rate of key financial regulators. Undoubtedly, sanctions restrictions and imposed trade restrictions that affect the possibility of interbank settlements will cause an increase in further interest in the cryptocurrency market," the expert assessed the situation.