PANews reported on March 18 that according to DL News, the co-founder of market maker GSR and founder of cryptocurrency clearing house Yellow said: "The value of Bitcoin remains unchanged, it is still $100,000, and now it is only discounted by 20% due to risks and uncertainties. It is only a matter of time before Bitcoin returns to a stable area. If we eliminate all uncertainties, Bitcoin will appreciate. We are in a bull market."
Despite U.S. President Donald Trump's sudden turn in support of the crypto industry, his administration's aggressive tariff policy has caused investors to flee, and Bitcoin has fallen more than 20% from its all-time high set on January 20, the day of Trump's inauguration.
Meanwhile, as the VIX, an index measuring market volatility expectations, surged more than 50% this month, investors are flocking to gold, which hit a new record of $3,000 an ounce in March. Sirkia said of Bitcoin's investment attributes: "In the eyes of institutions, Bitcoin is not a long-term asset like gold."
