While bitcoin prices have risen between $ 46,000 and $ 48,000 over the past three days, a number of proponents remain strong about the long-term value of the crypto asset. Kraken CEO Jesse Powell said Thursday that he thinks bitcoin can easily reach a valuation of millions of dollars per currency. “If you measure it in dollars, you have to think it’s going to be infinite,” Powell continues.
Bitcoin to Infinity and beyond
Over the past few weeks, while bitcoin (BTC) prices have experienced a climax rise above $ 58,000, a number of crypto advocates and analysts think BTC may contain six-digit in USD value. There are many calls suggesting that BTC will reach $ 100,000 this year, and even people saying it could reach between $ 200 and $ 350 million per unit.
After bitcoin reached an all-time high (ATH) on February 19, 2021, the CEO of the cryptocurrency exchange Kraken told Bloomberg reporter Lynn Thomasson that he believes the leading asset could one day make it up to $ 1 million .
Not too many people mention BTC prices with seven figures, but Jesse Powell, Kraken’s CEO said; “We can only speculate, but if you measure it in dollars, you have to think it’s going to be infinite.”
The founder of the San Francisco Stock Exchange said “true believers” think BTC can replace all the global currencies. “The true believers will tell you that it will be up to the moon, to Mars and eventually the world’s currency,” Powell explained in his recent interview.
Powell also announced that the company Kraken is considering an initial public offering (IPO) next year in the footsteps of the popular crypto exchange that is also located in San Francisco, Coinbase.
Kraken research: ‘Sustained trends show that we are still far from an important market test’
Kraken also published a summary of February 2021 on Friday, which looks at a number of important take-away. Some of them are BTC’s logarithmic regression withdrawal data, bitcoin’s price returns and volatility, along with other digital assets in the crypto-economy.
“Historical price action shows that the correction of bitcoin market market repeats between 70-90%,” Kraken’s researchers wrote on Friday. “If we examine long-term trends, our analysts conclude that we are still far from a major market cycle peak.”
Powell is also optimistic about the steady rise of BTC and the value of the leading crypto-asset against the US dollar. ‘[The U.S. dollar] is only 50 years old and it is already showing extreme signs of weakness, and I think people will start measuring the price of things in terms of Bitcoin, ”Powell van Kraken concluded.
What do you think of Kraken’s CEO’s prediction that BTC could reach $ 1 million per unit? Let us know what you think of this topic in the comments below.
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