Bitcoin 'Should Hold' USD 40K, Says Novogratz. If Not - It's | Crypto Miami
Bitcoin 'Should Hold' USD 40K, Says Novogratz. If Not - It's a ‘Buying Opportunity,’ Argues Kraken CEO.
A bitcoin (BTC) price of under USD 40,000 would be a “buying opportunity,” and the US dollar is “going to zero,” Jesse Powell, CEO of crypto exchange Kraken said in a new interview. Meanwhile, Galaxy Digital CEO Mike Novogratz said the market is in a “healthy” correction, and that a BTC price of USD 40,000 “should hold.”
Speaking with Bloomberg TV on Tuesday, Powell argued that bitcoin “certainly could” fall to as low as USD 42,000, but adding that it is difficult to predict exactly where the bitcoin price is going.
“I’m actually paying more attention to the US dollar these days, wondering where the bottom is,” Powell said, before adding “it seems like inflation is out of control, and there is no end in sight.”
Further, Powell said that although the bitcoin price has historically revolved around the four-year halving cycles, he is now of the impression that “a lot of people see anything under 40,000 dollars 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 have some dry powder on the sideline just waiting to come back in at rock bottom prices,” Kraken’s CEO said.
Confronted with an earlier price prediction from August this year when Powell said he believed bitcoin could reach more than USD 100,000 “late this year or early next year,” the exchange CEO reiterated that bitcoin should be seen as “a five year plus investment.”
“It’s up and down day to day and week to week. You don’t want to be trading this on short-term timeframes. It’s more of a buy-and-hold investment,” Powell said.
Lastly, asked about his top three predictions for 2022, the CEO revealed just how bearish he is on the US dollar, saying “the dollar is going to zero,” and “people should start stocking up on gasoline and milk right now probably.”
“Take on as much US dollar debt as you can, because [...] there will probably be a jubilee at some point,” Kraken’s CEO concluded the interview by saying.
