Michael’s dedication to promoting Bitcoin has created a small cesspool of pro-Bitcoin devotees eager to keep buying and continue holding till the embattled crypto trailblazer flashes a hopeful silver lining. ![]() Held’s counter-argument hinged based on the fact that the purchase of Bitcoin can not be controlled or regulated if decentralization is anything to go by.Īmidst surrounding arguments, this round of purchases marks the fifth Saylor’s company has made since 2022 – a stash originally worth over $4 billion and with a growing loss value to the tune of $1.9 billion. Woo added that Bitcoiners should only celebrate the adoption of Bitcoin by: “normal people using it to solve problems.” In a clap back, Dan Held labelled the fear of centralization as “unnecessary” as network structure and control of Bitcoin remains decentralized regardless, and holding power does not necessarily translate to control of the distribution. The duo of Willy Woo and Dan Held – popular crypto analysts – took turns to explain Saylor’s move as both healthy and unhealthy for crypto. Previous buys had earned the 57-year-old crypto proponent the title “gigachad” and with the new purchase, Saylor is to be known as a ‘rockstar.’ Saylor’s tweet sparked mixed reactions as a camp of crypto enthusiasts hailed the move as encouraging, while others warned of the risks of centralization. In a tweet yesterday afternoon, Saylor disclosed that his company had gone Bitcoin shopping over the last seven weeks at a price of approximately $16,500 per BTC, bringing the company’s total BTC stack to 132,500. But it is unknown how far, and what will happen next.A trove of mixed feelings trailed the crypto community as one of its foremost Bitcoin evangelists, Michael Saylor, announced an additional purchase of 2,500 BTCs. In short, even with all due caution, the certainty of these words is that the price of bitcoin is set to rise further. A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. Just as he hypothesises a “minor bear market” if bitcoin were to reach $80,000 and then lateralize throughout 2022. “Certainly out of a spectrum of potential developments, it’s one of the possible ones”. This would mean that the “super cycle” as he called it, failed to materialize. So much so that, in a later passage of the interview, he does not rule out that the same scenario as in 2017 could be repeated: bitcoin could go up, in a range he estimates as between $100,000 and $300,000, and then collapse again by 80% of its value. This is obviously a prediction, and as Dan Held specifies, it’s not necessarily going to come true, so it should be taken with the right caution. “Everyone is predicting that there will be the same 80% drop as the last bull run, I think maybe it can happen but there are a lot of things that are different in this cycle.” It won’t plummet, it simply might stop rising. This time things could be different: according to Kraken’s representative, it could even be the case that bitcoin’s price remains flat for a couple of years. In 2017, bitcoin first touched $20,000, then lost 80% of its value and fell to below $4,000 in March 2020. And then what would happen? There would be a bear market, or a crypto winter, but this time the winter could be much less cold. It could go as high as $300,000, and multiply three times to a million dollars. ![]() Bitcoin price predictions according to Kraken’s Growth leadĭan Held says there is a lot of expectation and belief that the price of bitcoin could rise further. ![]() of Money and a well-known cryptocurrency expert, Andreas M. Therefore, he argues, this time we are in the presence of something unprecedented and therefore history may not repeat itself. From Tom Brady to Crypto: Interview with Diginex Americas CEO Will McDonough. In his opinion, we are in the usual bull run that follows the halving of Bitcoin, but this time, compared to previous bull runs, the scenario is different.įirst of all, in the previous bull runs there was no pandemic, no economic crisis, no governments printing billions of dollars. He said this during the What Bitcoin Did podcast. Teeka Tiwari (Crypto Expert) Reveals 6 Secret Cryptocurrencies Set. ![]() According to Dan Held, growth lead of the Kraken exchange, this Bitcoin bull run is different. The teaser: Teeka Tiwari is joined by John Burke in an interview-like presentation.
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