The high volatility of BTC will continue going forward, and we will see rates varying from $28,000 to $1 million per Bitcoin “potentially in the coming decade”. This opinion was shared by Jesse Powell, co-founder, and CEO of the Bitcoin exchange Kraken, in an interview with Bloomberg.
The volatility of the rate of the biggest cryptocurrency will not fall down, despite the arrival of big corporate and institutional investors, Powell thinks.
This is why he believes that Bitcoin is “not designated for the faint of heart.” Furthermore, instead of day-to-day trading engagement, it is better to resort to the “long game” strategy.
Powell reminded that Ethereum, which is the second-largest cryptocurrency by market value, grew even more significantly than Bitcoin in the previous year. According to him, the extended development of DeFi had a significant role in this case.
“This represents a big success story amid an important protocol update process. Therefore, I believe that Ethereum, much like Bitcoin, has very bright prospects. I believe this is another asset that people should closely look at if they want to find something different to enter the cryptocurrency industry with,” noted the head of Kraken.
Powell is confident that there is no immediate risk of a “hasty market crackdown” on the part of regulators. They discover more and more dangers of acting to suppress cryptocurrencies, he stated.
“There will potentially be a tremendous backlash,” said Powell.
