Bitcoin was predicted to rise in price to a million dollars

The CEO of the Kraken crypto exchange Jesse Powell prophesied that Bitcoin could rise in price to a million dollars in the next decade. He shared his opinion with Bloomberg. “It will grow to the moon itself, to Mars and eventually become the world’s currency,” Powell said.

Such extreme predictions are nothing new for the crypto market. In the summer of 2020, Powell promised that the most popular cryptocurrency would soar to $ 100,000 per coin in two years. But while the dollar remains the world’s reserve currency and is the benchmark for world trade, although its value fell slightly last year, the agency notes.

Bitcoin began to rally in March 2020 amid news of the evolving coronavirus pandemic as global stock markets and oil prices crashed. Over the past year, the cryptocurrency has quadrupled in price and by the beginning of January 2021 almost broke through the mark of 42 thousand dollars, and by February 20 – 57 thousand dollars per coin. Soon, the price of cryptocurrency began to decline. At the beginning of March, Bitcoin exceeded $ 50,000 again, but then the price pulled back a little.

Many are confused by the high volatility of the cryptocurrency. For example, the founder of Microsoft and one of the richest people in the world, Bill Gates, warned investors against buying bitcoins. “If you have less money than Elon [Musk], you probably need to be careful. Elon has a lot of money and is very advanced, so I don’t worry that his bitcoins will go up and down chaotically,” he said. Gates.

For his part, the American economist Nouriel Roubini, who predicted the global financial crisis of 2008-2009, is confident that Bitcoin will face another failure. In his opinion, claims that bitcoin is the new “digital gold” are fueling a new bubble in the cryptocurrency market. In general, the economist urges not to invest in bitcoin.

/Media reports.