Kraken CEO: Crypto winter may appear, Bitcoin below $40,000 will be a buying point

Cryptocurrency exchange Kraken CEO Jesse Powell said in an interview with Bloomberg on the 15th that bitcoins below US$40,000 are good buying points, but what is more concerned is the trend of the US dollar under the out-of-control inflation index.

When asked whether he agrees with the $42,000 support statement mentioned by Mike Novogratz, CEO of Galaxy Digital, Powell said: According to historical trends, Bitcoin and the crypto ecosystem are mostly centered around the Bitcoin production halving cycle. However, a potential encryption winter is actually possible.

But Powell also believes that once investors begin to pour in to buy crypto assets, the market will rebound from the bear market. For Bitcoin's drop below $40,000, it also means: I think a price below $40,000 is a good buying point. The previous time, when Bitcoin fell back to nearly $30,000, I bought it. And I also think that many people are just waiting for the lowest point to buy the bottom.

Bitcoin should be regarded as an investment of more than five years

During the interview, the program also replayed the 100,000 yuan end of Bitcoin that Powell mentioned in August this year. When asked whether it was still worthwhile, Bauer also said: We have a few days left, and the trend is hard to tell. , Wait and see!

When it comes to the large fluctuations in the price of Bitcoin, it is difficult to predict the next market trend, so he believes that the best way to invest is to buy cryptocurrency and continue to hold it.

Powell also mentioned that in the long run, he is still optimistic about Bitcoin, and according to the long-term trend line, it has been showing an upward trend.

"Anyone considering investing in Bitcoin should treat it as an investment of more than 5 years. Because short-term trends are difficult to predict."

According to TradingView data, Bitcoin has fallen by more than $20,000 since its November high of $69,000, with the largest drop of 29.3%. According to the deadline, Bitcoin reported $48,752.