Kraken CEO: Bitcoin Under $ 40,000 is a “Buying Opportunity”

Kraken CEO Jesse Powell told Bloomberg TV that Bitcoin under $ 40,000 would be a “buying opportunity”.

Powell said he personally bought Bitcoin when it fell to $ 30,000, claiming that people had “dry powder” on the verge to buy more during such corrections.

As reported by U.Today, Mike Novogratz predicts Bitcoin will hold above $ 42,000, but he is also pessimistic about the crypto market in the short term as he believes the market will adversely affect it. Late 2021 and early 2022.

The Kraken CEO also addressed his failed $ 100,000 forecast, saying that he views Bitcoin as a long-term investment as capital volatility makes it difficult to predict the short-term price movements of the cryptocurrency.

Powell also predicted that non-fungible tokens, one of the main trends that will dominate cryptocurrency in 2021, will get “bigger and bigger”.

The dollar is toast

Powell also made a dire prediction for the US dollar, declaring it would go to zero and urging people to stock up on gasoline and milk. Kraken‘s boss expects interest rates to drop to negative levels:

Interest rates are negative so don’t keep your money in dollars.

The Federal Reserve is expected to announce at its meeting on Wednesday that it is pulling out of monetary easing, paving the way for its first rate hike in years.

BlackRock’s Rick Rieder thinks a return to quantitative tightening is “much overdue”.

According to a report by U.Today, the consumer price index recently saw its highest year-on-year growth in nearly four decades, with many experts questioning the “passing” narrative of inflation.