• Nikolaos Panigirtzoglou, a global market strategist with JPMorgan, recently gave his thoughts on why bitcoin and several other digital currencies have been rising in value since the beginning of the year.
• He believes that the banking crisis of recent months has helped bitcoin move along, but there are other contributing factors as well such as the launch of bitcoin ordinals and upcoming halving events.
• Lastly, he believes that these events will create a positive psychological effect which should only help to increase the price of bitcoin even further.
Nikolaos Panigirtzoglou on Bitcoin’s Rising Value
Nikolaos Panigirtzoglou – a global market strategist with JPMorgan, one of the biggest finance giants in the world – recently gave his thoughts on why bitcoin and several other digital currencies are up so high since the beginning of the year.
Banking Crisis Contributes to Price Surge
He commented that while the banking crisis of recent months has certainly helped bitcoin move along, there are other contributing factors as well.
Bitcoin Ordinals Make an Impact
Panigirtzoglou mentioned that the launch of bitcoin ordinals – a new non-fungible token (NFT) series available via the blockchain – is a huge deal given how often NFTs are distributed via Ethereum chain. He says this is going to open several doors not only for NFTs, but also for bitcoin, attracting more developers to establish new projects.
Halving Events Expected to Increase Price Further
Lastly, he believes that upcoming halving events (which occur every 4 years) will help drive up prices even further. He commented that many people are becoming mentally and psychologically prepared for this event which should happen in about 12 months – and that each time without fail it causes heavy price surges within bitcoin.
In conclusion, Nikolaos Panigirtzoglou believes that several underlying events have contributed to increased demand for cryptocurrency over recent months – including banking crises, launches of new tokens such as Bitcoin Ordinals and upcoming halving events – all of which have had a positive impact on prices.