Kraken’s CEO reverses the $ 100,000 BTC forecast in 2021: The crypto winter is now

In August, the CEO predicted that Bitcoin would trade “$ 100,000 plus one coin” by the end of this year or early next year.

Messages

With Bitcoin (BTC) continuing to trade sideways at around $ 48,000, Kraken CEO Jesse Powell is not considering the possibility of a short-term collapse in the crypto market.

Powell said in an interview with Bloomberg Technology on Dec. 14, noting that Bitcoin and the crypto ecosystem have historically evolved around cycles based on “roughly halving Bitcoin”.

But despite a possible crypto winter, Powell is confident that the market will bounce back from the bear market if investors start buying when BTC drops below $ 40,000:

“I think a lot of people see anything under $ 40,000 as an opportunity to buy. Personally, I bought it when we dropped to nearly $ 30,000 a few months ago and I think a lot of people are just waiting to get back on the ground. ”

During the interview, Powell mentioned some of his previous Bitcoin predictions, including his prediction of $ 100,000 in Bitcoin by the end of 2021. The CEO made that prediction in August of this year early next year. He also predicts that Bitcoin price will be “incredible” in March.

“It is difficult to know where the journey will go,” said the Kraken CEO in a recent interview, noting that he remains optimistic about Bitcoin in the long term. “If you look at Bitcoin’s long-term trend line and it’s steadily increasing. I always tell people, “If you’re thinking about buying Bitcoin, think of it as an investment of 5 years plus.”

Related: Bitcoin price is dropping ‘tremendously’ as the retailer has been buying most of the BTC since the March 2020 crash

Many prominent figures in the crypto community have predicted that BTC will hit $ 100,000 by the end of 2021, including the creator of the PlanB stock conversion model, the co-founder of Morgan Creek Digital Assets, Anthony Pompliano, the director of SkyBridge Cash, Anthony Scaramucci, and others .

Last week, Bitwise Chief Investment Officer Matt Hougan stated that $ 100,000 by the end of the year is a “difficult prediction,” suggesting the price could come in 2022.