Jesse Powell, the CEO of Kraken, is one of the leading voices of the crypto space. Kraken has always been a strong believer in the Bitcoin price, and he told Bloomberg TV that a price below $40,000 would be a buying opportunity for everyone.
It’s amazing how Powell predicts Bitcoin’s price movements, saying that when it dips to $30,000 there’s a lot of “dry powder” to buy more.
Mike Novogratz predicted that Bitcoin will remain above the $42,000 level. However, he is bearish on the crypto market for the next three to six months. He thinks that it will be negatively affected by the “messy” U.S. equities market in late 2021 and early 2022.
“Bitcoin is something I think about as a long-term investment because it’s difficult to predict short-term price moves,” said Kraken CEO Jesse Powell. It’s a speculative asset in many ways, but you can’t help but be impressed by how far it has come and the amount of innovation that’s happening around it.
Powell is forecasting that the cryptocurrency world’s biggest trend in 2021 will be the rise of non-fungible tokens.
The dollar is on its way out
Powell also offered a grim prediction about the U.S dollar. He warned that it is going to zero, urging people to stock up on gasoline and milk.
The Fed will be announcing an interest rate hike Wednesday, which sets the stage for the first interest rate hike in more than two years.
The consumer price index is at its highest for nearly four decades. Many analysts have cast doubt on the “transitory” narrative surrounding inflation.