High volatility of bitcoin coming soonwill continue, and we will see prices ranging from $ 28,000 to $ 1 million per coin “potentially in the next decade”. This opinion was expressed by Jesse Powell, co-founder and CEO of the Kraken bitcoin exchange, in an interview with Bloomberg.
The volatility of the price of the first cryptocurrency will not decrease despite the arrival of institutional investors, Powell believes.
Therefore, he believes that bitcoin is "not for the faint of heart", and instead of day trading, it is better to resort to the "hold" strategy.
Powell recalled that Ethereum (ETH), the second largest cryptocurrency in terms of capitalization, grew even more than Bitcoin in a year. In his opinion, the explosive development of DeFi played a significant role in this.
“This is a huge success story against the backdrop of the processmajor protocol update. I think that Ethereum, like Bitcoin, has a very bright future. I think this is another asset that people should pay attention to if they are looking for something else to enter the cryptocurrency industry, "said the head of Kraken.
He is confident that there is no risk of a “hasty clamping of the market” by regulators. According to him, they increasingly understand the dangers of trying to suppress cryptocurrencies.
"There will be a tremendous backlash," says Powell.
Note that Insider co-founder Henry Blodget also believes that the price of bitcoin could rise to $ 1 million.
</p></p>Read this:
The head of Kraken spoke about the growing interest of investors in bitcoin
Kraken head: massive adoption of Bitcoin is inevitable
CEO Kraken says Satoshi Nakamoto foresees future financial crisis
Bobby Lee: “By the end of 2021, the Bitcoin exchange rate will exceed $ 39,900”
Bobby Lee: “The price of bitcoin will exceed $ 20,000 by the end of the year”
Adam Beck: “Bitcoin exchange rate could reach $ 100,000 this year”