Dollar To Hit Zero With Bitcoin Below $ 40,000 In 2022, Says Crypto CEO

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The forecast for 2022 is coming quickly.

The chief executive of crypto exchange Kraken said the dollar will collapse and bitcoin will see its price drop significantly in 2022.

Amid the uproar, Jesse Powell urged investors this week to prepay health and tuition fees and take on more U.S. debt.

“Maybe I should stop making predictions. I’ll say the dollar goes to zero. You should start stocking up on gasoline and milk now. If you can prepay your health care bills. and schooling, you probably should do it right away, “PowelI said in an interview with Bloomberg TV.

The dollar index fell 0.28% on Thursday, while the British pound rose 0.40% to $ 1.3316 and the euro rose 0.19% to $ 1.1307.

“Encourage as much US dollar debt as possible because there will be a jubilee at some point. Interest rates are going negative, so don’t hold your currency in dollars,” Powell added.

“I’m paying more attention to the US dollar these days wondering where the bottom is. It looks like inflation is out of control and there’s no end in sight,” Powell added.

Powell also said the price of the most traded cryptocurrency, bitcoin, could drop below $ 40,000 this winter and urged investors to buy the downside.

“A lot of people see anything under $ 40,000 as a buying opportunity,” said Powell.

“I was personally buying when we went down almost $ 30,000 a few months ago. A lot of people have dry powder on the fringes just waiting to come back to rock bottom prices. “, he added.

The price of Bitcoin has fallen 0.9% in the past 24 hours, according to CoinGecko, a price tracking website for crypto assets. The price of bitcoin was trading down 2.81% to $ 47,838 on Thursday.

Cryptocurrencies across the board saw a big sell off last month with the prices of some of the most popular tokens including bitcoin, ethereum, XRP, solana, and dogecoin all dropping sharply.

Bitcoin prices have plunged in recent weeks, falling more than 6% last week and 26% last month.

“Think of bitcoin as an investment of more than five years, top to bottom, day to day, week to week. You don’t want to trade this for short periods of time. It’s more of a buy and sell investment. conservation, ”added Powell.

Powell had previously predicted that bitcoin could reach over $ 100,000 by the end of 2021 and early next year.

Bitcoin operator Kraken supports over 90 cryptocurrencies in over 70 assets. Kraken is working on an NFT platform to give investors exposure to this asset as well.

Kraken could go public in 12 to 18 months, Bloomberg reported in June of this year.

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