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Kraken CEO reverses $100Okay BTC 2021 forecast: Crypto winter now doable


In August, the CEO predicted that Bitcoin would commerce “$100,000 plus a coin” late this 12 months or early subsequent 12 months.

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Kraken CEO reverses $100K BTC 2021 forecast: Crypto winter now possible

As Bitcoin (BTC) continues to commerce sideways round $48,000, Kraken CEO Jesse Powell shouldn’t be counting out a possible crash on cryptocurrency markets within the brief time period.

A crypto winter is now “doable,” Powell stated in a Dec. 14 interview with Bloomberg Know-how, noting that Bitcoin and the crypto ecosystem have traditionally advanced round cycles primarily based “kind of across the Bitcoin halving.”

However regardless of a doubtlessly looming crypto winter, Powell is assured that the market will bounce again from a bear market as soon as traders begin shopping for ought to BTC drop beneath $40,000:

“I believe lots of people see something below $40,000 as a shopping for alternative. I used to be personally shopping for once we dipped again near $30,000 a couple of months in the past and I believe lots of people are simply ready to return again in at all-time low costs.”

Within the interview, Powell talked about a few of his earlier Bitcoin predictions, together with his $100,000 Bitcoin forecast for late 2021. The CEO made this prediction in August, stating, “I believe we might see $100,000 plus a coin late this year-early subsequent 12 months.” He additionally predicted that Bitcoin value goes to ‘infinity’ in March.

“It’s laborious to know the place it goes,” Kraken CEO stated within the newest interview, noting that he’s nonetheless bullish on Bitcoin in the long run. “Once you take a look at a long-term trendline of Bitcoin and it’s simply up persistently. I all the time inform individuals ‘If you concentrate on shopping for Bitcoin, give it some thought as a five-year plus funding.’”

Associated: Bitcoin sheds ‘dumb cash’ as retail buys most BTC since March 2020 crash

Many distinguished figures within the crypto neighborhood predicted BTC to hit $100,000 by the tip of 2021, together with stock-to-flow mannequin creator PlanB, Morgan Creek Digital Belongings co-founder Anthony Pompliano, SkyBridge Capital CEO Anthony Scaramucci and others.

Final week, Bitwise chief funding officer Matt Hougan claimed that $100,000 by the tip of the 12 months was a “tough prediction to make,” suggesting that the worth stage might are available in 2022.

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