cryptocurrencies They continued their rise, which they started yesterday, until today’s FED statements.
With the decline of the US stock markets after the FED, the withdrawn BTC price again fell below $ 37,000.
Many crypto advocates seem confident about Bitcoin’s long-term trajectory. Cathie Wood, one of these names, claimed that the price of BTC could reach $ 30 million by 2030.
On the subject, Jean-Marie Mognetti, CEO of Coinshares, Europe’s largest digital asset manager, also shared his views. Mognetti expressed the reactions from his customers after the drop in Bitcoin price:
As a company, we have been in the crypto money market since 2012-2013. Despite being so old, falls can still be painful for us. From time to time, we can forget that downfalls can happen. We reached a large number of new customers in 2021. These new customers are not used to downturns, but our customers who have been with us since 2015-2016 are guiding the newcomers in this area.”
Mognetti evaluated Cathie Wood’s claim that the BTC price will reach $ 1 million: “The cryptocurrency market has been bleeding for several months in parallel with the US stock exchanges. The Nasdaq lost all its growth in 2021 in one fell swoop. bitcoin and the crypto world in general has lost 50% of its value. However, the financial world is waiting for the Fed’s decisions. Cathie Wood made bold statements in her statement, but the numbers are relative so I won’t comment on that.”
“Bitcoin Price in 2022 Will Be Determined by FED’s Tightening!”
Mognetti answered the question of whether Bitcoin and other cryptocurrencies could make a splash in 2022, when the Fed was tightening:
In fact, the thing to be evaluated is not whether the Fed will tighten, but how much of this tightening will be. It will be interesting to see how BTC will react to this in the medium term, but I think BTC still has potential on the upside.”
*Not investment advice.