of bitcoin HEX founder Richard Heart, who predicted that it will fall to the levels of 10 thousand dollars, explained when BTC is expected to recover in a striking interview with Kitco News.
He also predicted how Bitcoin would perform in the US recession.
Richard Heart Addresses Michael Saylor
The interview began with Heart addressing the people who disregarded the $10,000-odd BTC estimate and are currently at a loss.
Heart criticized Michael Saylor, Three Arrow Capitals and Celsius for using leverage and believing in BTC’s massive rise. He announced that MicroStrategy, owned by Saylor, had lost 90% of its value.
According to Heart, BTC has traditionally fallen by about 85% all the time. According to him, investors like Saylor delayed the inevitable drop to $17,000. According to Heart, Bitcoin would have already bounced back from this level.
Heart Predicted Bitcoin’s Reversal Scenario
In response to a question about Bitcoin’s performance during the recession, Heart said: cryptocurrency He said he expects it to perform well during the recession.
According to him, cryptocurrencies are strongly correlated with stocks that will perform well when the Fed starts cutting taxes.
Many experts believe that with back-to-back negative GDP figures, the Fed is unlikely to make an unusual rate hike. According to Heart, at some point the Fed will start printing money again and risky asset classes like crypto will rally.
Heart believes volatility is a price to be paid in crypto assets, which he believes are the world’s best performing asset.
Citing Amazon’s price crash in 2000 as an example, he said that every high-potential asset has volatility as a side effect.
*Not investment advice.