This week Digital Assets Data CEO Mike Alfred told Cointelegraph that mainstream investors are still “skeptical of Bitcoin and the ecosystem.”
However, Alfred believes that this “skepticism and disbelief” will turn out to be a positive for Bitcoin (BTC) because when the “traditional folks capitulate, they will be forced by their clients and partners to get involved at significantly higher prices.”
While Bitcoin has struggled to start a sustained uptrend in the past few weeks, select altcoins and tokens in the DeFi space have been in a strong bull run. This shows that traders attention has shifted away from Bitcoin.
Crypto market data daily view. Source: Coin360
Pantera Capital founder and CEO Dan Morehead believes that the DeFi space will outrun Bitcoin in the next five years and grow by about 100x.
In the long-term, most analysts are uber bullish on the crypto space but what can traders expect in the next few days?
Let’s have a look