Harry Yeh, the founder of Quantum Fintech Group, has signaled that the crypto trends indicate the sector is entering a supercycle, according to a report by Finbold on Wednesday.

  • In an interview with Bloomberg Markets, Yeh stated that the crypto market is in its initial stages but still remains a stablecoin bull cycle despite the current volatility.
  • Yeh argues that the current bull market differs from the previous one due to the increasing role of stablecoins that he noted is causing mainstream adoption.
  • Yeh stated that stablecoins play an important role in crypto payments, indicating that they address ‘inefficiency’ shortcomings by assets like Bitcoin and Ethereum.

Irrespective of Bitcoin starting on a losing streak, Yeh expressed bullishness for the asset in the next one years, forecasting a price target of $400,000. The forecast is guided by Fed activity, where he ruled out near-term interest rate hikes. BTC USD down -0.34%