Bitcoin Less Than $ 40,000 Per Purchase, US Dollar Goes To Zero, Says Kraken CEO Jessee Powell

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The Bitcoin (BTC) market looks lukewarm as it heads towards the end of 2021. As the Christmas cheer from CoinMarketCap turned out to be a glitch, with regulators struggling to place the 2.2 trillion market. dollars under government watch have further delayed the chances of a potential relief rallying.

With only fifteen days remaining, the Bitcoin predictions are here again. This time it’s – Kraken CEO Jesse Powell hinted that the flagship cryptocurrency could drop below $ 40,000. However, this is not all.

Bitcoin a buying opportunity

Jesse Powell had earlier predicted that Bitcoin would hit $ 100,000 by the end of 2021. Although he did mention that there were a few days left, at a price of $ 48,296 at press time, and with the trend current, a step as daring as the one claimed can not transpire.

In a recent interview with Bloomberg TV, the executive said there was a possibility that Bitcoin could go down to $ 42,000. He also said that a drop below $ 40,000 would provide a buying opportunity for market participants.

“But I think a lot of people see anything under $ 40,000 as a buying opportunity. I was personally buying when we fell back to $ 30,000 a few months ago. Lots of people have dry powder on the sidelines just waiting to come back to rock bottom prices. “

Speaking about his not-so-successful price prediction, Powell believed that “we would all be in flying saucers and pay for coffees in Bitcoin” in 2011. While highly unlikely soon, the executive believes in the long trendline. term of Bitcoin and its consistency. He claimed that Bitcoin should be viewed as an “investment of more than five years”. Rather than trading in a short period of time, Powell said cryptocurrency is more of a “buy and hold investment.”

Is the dollar doomed?

In line with the stock market’s $ 100,000 Bitcoin prediction, the executive has a new one – “The dollar is going to zero.” He even added that people should start stocking up on gasoline and milk if they can pay for school fees and health care in advance. Powell didn’t stop there. The CEO of the First Exchange also said that interest rates will fall into the negative zone and urged people not to hold dollars.

On the regulatory aspect in the United States, Powell spoke of the uncertainty that has lasted for a decade and the lack of an appropriate regulatory regime in the space. As a result, many companies have decided to move their base overseas in search of better pastures, while others remain on the sidelines, fearing the consequences.

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