[Grayscale Believes Current Bitcoin Price May Offer Favorable Entry Point for Long-Term Investors, Driven by Three Converging Factors] Odaily Planet Daily News – Zach Pandl, Head of Research at digital asset management company Grayscale, stated that the structural adoption trend of Bitcoin continues, the current bear market has entered a deeper phase, and the macroeconomic outlook is generally favorable. Three factors may provide a basis for long-term investors to enter the market, although prices could still decline. Grayscale pointed out that the growth in Bitcoin adoption is primarily driven by government deficits, the expansion of blockchain applications in the financial services sector, and generational shifts in investor asset allocation. The current bear market has lasted for 10 months, approaching the average and median duration of 11 to 12 months observed in the previous four cyclical bear markets. Macro risks mainly depend on real interest rates and Federal Reserve policies. The Federal Open Market Committee maintained the federal funds rate at 3.5% to 3.75% in July, and future rate hikes could lead to further declines in Bitcoin. On August 21, Bitcoin briefly rose to $79,461 before falling back to around $77,000. (Bitcoin.com News)