CandleFocus Kraken: “the crypto rally is the revelation of a pent-up demand"
2024-12-05
Author: Content Editor
Thomas Perfumo, Head of Strategy at Kraken, believes that the current bull run in the cryptocurrency sector is not surprising, as it reveals pent-up demand that was previously obscured by uncertainty and unclear regulations in the US. Perfumo points to the election of Donald Trump as a catalyst for the crypto rally, as Trump expressed support for the industry. The recent resignation of the SEC Chairman, who was opposed to crypto, further supports the bullish trend. Perfumo also notes that the limited supply of Bitcoin contributes to the rising price, as over 94% of all bitcoins have already been mined. He predicts that mainstream adoption of cryptocurrencies could increase to over 1 billion people in the next two or three years.
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