The condition for bitcoin growth has been named

According to Canadian businessman and investor Kevin O’Leary, the support of American politicians may cause an influx of institutional capital into the crypto market, which will trigger bitcoin’s growth.

He added that the first cryptocurrency will remain in the range of $ 17,000 to $ 22,000 until the US authorities start regulating stablecoins. The entrepreneur said this during an interview with Jeremy Aller, CEO of Circle (the issuer of the USDC stablecoin).

The investor explained that the introduction of regulation on stablecoins is the easiest task for the authorities, but it will be a positive signal that will attract institutional investors to the digital asset market. This, in turn, will lead to an increase in the value of other cryptocurrencies.

«There is fatigue in the crypto market now. There is a lack of acceptance and a lack of wallets. There are a lot of things missing, and now this issue is really coming to the fore. We have to break through this. It’s like a giant traffic jam,» O’Leary said.