Bitcoin investors and industry leaders gathered in New York City this week for Bitcoin Investors Week, displaying unwavering optimism despite the ongoing cryptocurrency downturn. The multi-day event, hosted by tech entrepreneur Anthony Pompliano, brought together a diverse crowd of bitcoin enthusiasts, from institutional investors to crypto entrepreneurs, all maintaining bullish outlooks on the digital asset’s future prospects.
The conference took place as bitcoin prices remain stuck around $70,000, down as much as 50% from their peak earlier this year. According to attendees and speakers, however, the current bear market has done little to dampen enthusiasm among seasoned cryptocurrency investors who view the decline as a familiar cyclical pattern.
Industry Veterans Remain Unfazed by Bitcoin Bear Market
Chris Klein, Chief Operating Officer of crypto retirement platform Bitcoin IRA, told reporters that experienced market participants are not concerned about current conditions. “Every eighteen months we go through something like this, so if anybody’s been in this space long enough, this is the third or fourth time they’ve been through this,” he said.
Similarly, Sam Callahan, director of bitcoin strategy and research at digital asset treasury OranjeBTC, noted that veteran crypto investors have weathered far worse downturns. The bitcoin bear market has now persisted for approximately four months, yet both retail and institutional participants appear to maintain their confidence in the asset class.
Prominent Investors Continue Buying
Mike Novogratz, CEO of digital asset investment firm Galaxy Digital, revealed during the event that he has been actively purchasing more bitcoin recently. According to Novogratz, he anticipates favorable shifts in macroeconomic conditions and policy developments that could benefit cryptocurrency markets.
Meanwhile, Cathie Wood, founder and CEO of Ark Investment Management, continued advocating for bitcoin as a dual hedge against both inflation and deflation. Additionally, Wood emphasized her belief that blockchain technology will play a significant role in the technology sector’s next growth phase.
Wall Street Analysts Connect Tech and Bitcoin Futures
Dan Ives of Wedbush Securities, known for his bullish stance on technology stocks, argued that optimism about the tech sector is inseparable from confidence in bitcoin. The analyst predicted that new use cases for the cryptocurrency will emerge in the near future, further cementing its position in the financial landscape.
However, the conference atmosphere extended beyond major investment firms. Attendees showcased their commitment to the asset class through bitcoin-themed accessories, including orange ties in tribute to prominent bitcoin evangelist Michael Saylor and bitcoin pins adorning blazer lapels.
Entrepreneurs See Opportunity Amid Downturn
Klint Drici, head of institutional sales at crypto-backed loan platform Arch Lending, offered a unique perspective on bear market conferences. “These conferences during market drawdowns are refreshing,” Drici stated. “They showcase the real builders and operators.”
In contrast to purely speculative events, the gathering featured numerous bitcoin entrepreneurs discussing projects under development despite the challenging market environment. Eran Barak, founder of blockchain consulting firm Breem Group, pointed to favorable regulatory developments on the horizon, including the CLARITY Act moving closer to approval and anticipated Federal Reserve rate cuts.
“As the CLARITY Act moves closer to approval and Fed rate cuts are increasingly expected, funds and enterprises are viewing Bitcoin as a treasury diversification tool—boosting its perceived value as fresh liquidity flows into the market,” Barak stated. This sentiment reflects growing institutional interest in cryptocurrency as a legitimate asset class despite current price pressures.
Price Predictions Vary But Optimism Persists
Real estate entrepreneur and investor Grant Cardone shared his bitcoin investing strategy and offered price predictions for the remainder of the year. According to Cardone, the cryptocurrency could trade sideways until late summer or fall, potentially testing levels between $38,000 and $40,000.
Nevertheless, Cardone maintained that bitcoin could still reach $180,000 before year-end. While conference attendees disagreed on the exact timing of a potential rebound, consensus emerged that bitcoin should stage a comeback within 2026, though the specific catalyst for such a rally remains uncertain.
