Billionaire cryptocurrency Entrepreneur and FTX CEO Sam Bankman-Fried said we may be in a “crypto fall” rather than a “crypto winter.”
FTX CEO: “We Are Not In A Crypto Winter”
In his statement, Bankman-Fried claimed that the key role in the digital asset markets will belong to the Fed in the coming months.
As known bitcoin and altcoin After breaking records in November, the markets experienced a great decline in their prices with the rumors that the Fed would raise interest rates.
It was suspected that the cryptocurrency market might have entered a “crypto winter” after these sudden drops. The concept of crypto winter describes prices falling and staying low for years.
However, Bankman-Fried, who founded the crypto exchange FTX in 2019, said:
“I don’t believe this is a true crypto winter. We are still seeing a lot of activity in this industry and there is a huge surge of excitement as well.”
The famous CEO argued that it would be better to think of the current situation as a “crypto fall” rather than a crypto winter. However, Bankman-Fried also acknowledged that there is a pause in the crypto market.
Sam Bankman-Fried: “Fed Will Determine The Movements Of The Crypto Market In The Coming Months”
The famous entrepreneur, who has a fortune of approximately $ 25 billion, said that the most influential factor in the crypto market right now is the policy of the Fed:
“As we see the Fed’s policy heavily influencing market movements, I think the strong correlation between Fed actions and crypto market movements will likely continue in the coming months.”
Bankman-Fried also said in his statements that there has been a slight decrease in transaction volume on FTX recently.
*Not investment advice.