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Why Kraken's CEO changed his bullish Bitcoin (BTC) forecast



Many saw Bitcoin at $ 100,000 by the end of the year. There are still two weeks until then. Right now there is still a risk of further correction, which is why buyers seem cautious right now.


Kraken CEO changes its bullish Bitcoin (BTC) forecast

Since the strong fall of Bitcoin, and that BTC is currently not showing any strength, the first are already talking of a start of the crypto winter.


As of December 13, BTC had spent around 100 days in the $ 40,000 range. As it currently stands, that won't change anytime soon, as consolidation continues. At the time of writing, the price is around $ 48,800, up 0.96%. Whalemap has an interesting range at 40,000 USD identified that many have in mind.


Even if the situation is currently unclear, price forecasts are still making the rounds, even if there are only a fortnight to the end of the year.


Due to the currently unclear situation, and that there are only 14 days until the end of the year, Kraken CEO Jesse Powell spoke about his changed mind in an interview with Bloomberg TV.


He thinks it is possible that Bitcoin could drop to USD 42,000 and that it could even go below the USD 40,000 mark. Powell is confident, however, that the market will bounce back from a bear market. This could be a possible opportunity for anyone looking to buy the dip.


“I think a lot of people see anything under $ 40,000 as an opportunity to buy. I personally bought when we dropped almost to $ 30,000 a few months ago and I think a lot of people are just waiting to get back in at rock bottom prices. "


In August, Powell said Bitcoin would hit $ 100,000 by the end of this year or early next. When asked about his old forecast, he said:


"It's hard to know where it's going."


He added:


“If you look at a long-term trend line for Bitcoin and it's just going up consistently. I always tell people, if you are thinking of buying Bitcoin, think of it as an investment of over five years. "


Many prominent people from the crypto world, including PlanB, Anthony Pompliano, and Anthony Scaramucci, had also bet on the $ 100,000.


Now that the year 2022 is approaching, many experts are skeptical about this goal. Matt Hougan, Bitwise Chief Investment Officer says:


“Bitcoin at $ 100,000 by the end of the year is a tough prediction. [...] I think $ 100,000 could be a goal in 2022, but I'm not so sure this year. "



Many in the crypto community are more skeptical. BTC could drop below $ 40,000 is a realistic scenario. Until then, it remains to be seen where the journey will go.

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