Famous CEO Emphasized the Importance of This Level in Bitcoin

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Jesse Powell, CEO of popular cryptocurrency exchange Kraken, told Bloomberg TV that Bitcoin (BTC) below $40,000 would be a “buying opportunity” and warned investors about this.

Bitcoin Offers An Opportunity To Buy Below $40,000

In his statements, Powell stated that he personally bought when Bitcoin slumped to $ 30,000, and said that people should leave “cash” on the side to buy more during such corrections.

In addition, Mike Novogratz, CEO of Galaxy Digital, predicts that Bitcoin will stay above the $42,000 level. However, he believes that in the short term, the crypto market will also be bearish as Bitcoin will be negatively impacted by the “scattered” US stock market.

The Kraken CEO also referred to the failed $100,000 price prediction, saying that he sees Bitcoin as a long-term investment, saying short-term price movements are difficult to predict due to the cryptocurrency’s inherent volatility.

NFTs Will Get Bigger

Powell also predicts that immutable tokens (NFT), one of the key trends dominating cryptocurrencies in 2021, will “get bigger and bigger.” Additionally, Powell made a grim prediction about the US dollar and urged people to stockpile gasoline and milk, claiming it would go to zero. So much so that the Kraken chairman expects interest rates to slide into negative territory. Here are Kraken CEO’s statements on the subject;

“Interest rates are getting negative, so don’t keep your currencies in dollars.”

The Federal Reserve is expected to announce its move away from quantitative easing at its high-risk meeting on Wednesday, laying the groundwork for the first rate hike in years.

Rick Rieder of BlackRock stated that the return to quantitative tightening is “too long overdue”.

Additionally, the consumer price index has recently captured its highest annual growth in nearly four decades, with many experts skeptical of the “temporary” narrative surrounding inflation.