The head of the Kraken cryptocurrency exchange Jesse Powell has allowed the onset of a new crypto winter. In a conversation with Bloomberg, he noted that Bitcoin could fall below $ 40,000 and this should be taken as a “buying opportunity.”
According to Powell, the market for the first cryptocurrency develops cyclically, and the starting points of these phases are halving. The previous decrease in miner remuneration occurred in May 2020, the next expected in March 2024.
Despite the possible approaching crypto winter, the Kraken CEO believes the price of digital gold will rebound quickly as investors start buying assets.
“I think a lot of people see prices below $ 40,000 as a buying opportunity. I personally bought when we dropped to almost $ 30,000 a few months ago. A lot of people are just waiting to get back to the market at the lowest prices, ”he said.
In August Powell statedthat in 2021 the price of bitcoin may exceed the $ 100,000 mark. According to the CEO, his forecast is unlikely to come true in December, however, he stressed that in the long term, this price level looks quite achievable.
“It’s hard to say where he is [курс биткоина] will go. When you look at a trendline on a large timeframe, it just rallies consistently. I always tell people who are thinking of buying digital gold to treat it like an investment for five years or more, ”Powell added.
Earlier, the author of the Stock-to-Flow model admitted the insolvency of his own “worst” scenario, according to which the bitcoin rate was supposed to reach $ 98,000 in November.
We will remind, the founder of SkyBridge Capital Anthony Scaramucci said that investors should take advantage of the latest correction in the digital asset market in order to increase their positions.
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