The director of cryptocurrency exchange Kraken sticks to his line: he believes that the price of bitcoin could reach $ 1 million in the coming years thanks to monetary policy. This policy ensures that the supply of new dollars (and euros) remains consistently high.
Increase to 1 million is a breeze
Powell was a guest on the Podcast H3 and he discussed the impact of bitcoin on the environment and the role of cryptocurrency in the financial system. During the conversation, he said that the price of bitcoin could easily rise from $ 500,000 to $ 1 million in the coming years. The question is whether that means that bitcoin will become worth more, or whether this is because fiat currency will become worthless. Price prediction crypto Netherlands is popular.
Powell cites monetary policy where quantitative easing could lead to inflation or currency slackening.
It’s still early. I think so, I think bitcoin will easily reach $ 500,000 for the next few years. See how much money is being printed. We’re easily going to get a million dollars in bitcoin.
Only invest what you can afford to lose
When asked if he would recommend investing in cryptocurrency, he said the podcast listeners should at least “ float in it. ” By this he means that everyone has between 1% and 10% of their portfolio in cryptocurrency must stop. However, he does not recommend investing any money they need to pay for expenses.
Don’t gamble with your rent, don’t bet your money for food on bitcoin, but if you have a portfolio of investments you should definitely have some bitcoin in there.
Don’t gamble on low cap altcoins
When asked about the thousands of altcoins created, Powell compared the cryptocurrency market to the stock market, advising investors to stick to the biggest names, as they would if they invested in stocks. Spain cryptocurrency predictions is popular.
Brand names like Apple, Google and Facebook are popular and safe to invest in, and he said the same is true for both bitcoin and ethereum. He also says that if you are not a full-time Wall Street analyst, and therefore have an awful lot of knowledge of the market, then you should not gamble on very small, unknown stocks. “That also applies to low cap altcoins, you should buy them based on the potential offered.”
Don’t mind all the new things that are constantly coming out. Just stick with Bitcoin and Ether. If you want to be super safe, I think Bitcoin and Ether are super safe bets. Everything else, it gets more exotic and you get higher returns with more risk, but I wouldn’t look at other things.