As Bitcoin (BTC) continues to trade sideways around $48,000, Kraken CEO Jesse Powell is not counting out a potential crash on cryptocurrency markets in the short term.<\/p>\n
A crypto winter is now \u201cpossible,\u201d Powell said in a Dec. 14 interview with Bloomberg Technology, noting that Bitcoin and the crypto ecosystem have historically evolved around cycles based \u201csort of around the Bitcoin halving.\u201d<\/p>\n
But despite a potentially looming crypto winter, Powell is confident that the market will bounce back from a bear market once investors start buying should BTC drop below $40,000:<\/p>\n
\u201cI think a lot of people see anything under $40,000 as a buying opportunity. I was personally buying when we dipped back close to $30,000 a few months ago and I think a lot of people are just waiting to come back in at rock bottom prices.\u201d<\/p><\/blockquote>\n
In the interview, Powell mentioned some of his previous Bitcoin predictions, including his $100,000 Bitcoin forecast for late 2021. The CEO made this prediction in August, stating,\u00a0\u201cI think we could see $100,000 plus a coin late this year-early next year.\u201d He also predicted that Bitcoin price is going to \u2018infinity\u2019 in March.<\/p>\n
\u201cIt\u2019s hard to know where it goes,\u201d Kraken CEO said in the latest interview, noting that he is still bullish on Bitcoin in the long term. \u201cWhen you look at a long-term trendline of Bitcoin and it\u2019s just up consistently. I always tell people \u2018If you think about buying Bitcoin, think about it as a five-year plus investment.\u2019\u201d<\/p>\n
Related: <\/em><\/strong>Bitcoin sheds \u2018dumb money\u2019 as retail buys most BTC since March 2020 crash<\/em><\/strong><\/p>\nMany prominent figures in the crypto community predicted BTC to hit $100,000 by the end of 2021, including stock-to-flow model creator PlanB, Morgan Creek Digital Assets co-founder Anthony Pompliano, SkyBridge Capital CEO Anthony Scaramucci and others.<\/p>\n
Last week, Bitwise chief investment officer Matt Hougan claimed that $100,000 by the end of the year was a \u201cdifficult prediction to make,\u201d suggesting that the price level could come in 2022.<\/p>\n
Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"As Bitcoin (BTC) continues to trade sideways<\/p>\n","protected":false},"author":3,"featured_media":147465,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n
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