The CEO of the US-based Crypto-exchange, Kraken says that he believe that the Bitcoin price stands on the threshold of a new long-term rally to $ 100,000.In a new, Pantera held a telephone conference with the Jesse Powell says that the masses understand how important is the scarcity of Bitcoin, and its independence from banks, and between traders. He expects that this will change in the coming decade, if and when the value of the dollar fades.
I don’t think that Bitcoin is priced in Bitcoin in. Most people have heard of Bitcoin, but you have no Bitcoin. You don’t know what the future of Bitcoin is. I think if everyone about Bitcoin and the potential of Bitcoin and how great it is, knew would be the price of a trillion dollars per Bitcoin. We would all be simply converted to Bitcoin, and nothing else to use…
He continued:
I think that much of it is not priced in, even if it is predictable, such as, for example, the future. Ten years later, the US will print dollars like crazy. He will be completely worthless. No one will want him. Everyone will want to have Bitcoin. But this is not priced in because of the perceived risks or the perceived uncertainty about the future, about regulation, about how the government is responding in various situations, while Bitcoin is further developed or how useful it is actually.
Also read: Ethereum course at the beginning of a price rally of 90% or more in the next 2 months? Traders maintain prices of about$ 700 more by the end of the year
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Bitcoin price will increase in 2 years, at$ 100,000
Kraken is already witness to an Explosion of the institutional trade. According to Powell, the Bitcoin exchange rate will probably reach in about two years, $ 100,000.
I believe that we are in relation to the global political and economic systems in a totally unprecedented time. I believe that this will continue to drive a pretty massive transition to digital currency. I believe that we will see in the next couple of years, probably 1 BTC over $ 100,000…
In the last two months, the Kraken has experienced, according to statements of the CEO of a huge increase in new accounts of institutions. He thinks the only reason for this is that not much faster, more institutions enter the market, the uncertainty regarding the regulatory Situation.
The returns are easy to ignore so hard. It does not seem to have crypto in your Portfolio.
Despite his optimism, Powell says, that at the Moment, the cash remains king, what in the current macro-economic climate is a significant factor that is working against Bitcoin.
In a time like this, with so much uncertainty, I think that people look at what they know, namely, cash. Do I have to pay my rent in cash. I need to buy my food and my toilet paper with cash.
According to him, the people are not looking for a volatile asset, even if he is in the long term a good investment. People think in the Moment rather in the very short term and this is a fact that speaks his opinion against Bitcoin, and a rapidly increasing Bitcoin exchange rate.Read also: Bitcoin price analysis: Must fall in the BTC price first on 6.600$, before he can rise to 15,000$ and beyond?
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