Continuing its horizontal movements at $ 19,000 for a while in Bitcoin (BTC) volatility began to decline.
Participating in CNBC’s Squawk Box Kristin Smith, executive director of the Blockchain Associationexplained his thoughts on the recent price movements of Bitcoin, which is currently hovering below $20,000.
bitcoin Stating that the price has been more stable recently and volatility has decreased compared to other times, Kristin Smith explained the reason for this situation.
Smith cited the reason why investors no longer have the extra money to invest in Bitcoin.
“Retail investors are spending their money on gas and food that are rising in price. That’s why people have largely given up on investing in Bitcoin.
People currently do not have the ability to save extra money to invest in Bitcoin.
But as we start to see the economy picking up and people putting more risk into their investment portfolios, we will see investment in Bitcoin rise and then the price soars.”
in the USA cryptocurrency Kristin Smith, who also spoke about the regulation studies in the bitcoin He said he is actively working on crypto legislation, which will include the spot market.
Explaining that the crypto law in question is likely to be enacted before the end of 2022, Smith said, “There is a good chance we will see crypto legislation enacted before the end of the year” said.
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