Kraken founder crypto expert Jesse Powell FTXHe evaluated the state of the industry following the collapse of .
Kraken Founder Jesse Powell Predicts the Next ‘Big Event’ to Kick Crypto Out of the Bear Market
In a new interview, Powell said that with billions of dollars gone and a reputation that needs repairing, the industry will need time to recover from the FTX debacle.
The founder of Kraken, which will likely take place in the first half of 2024 Bitcoin (BTC) says the halving could be the next bullish catalyst for crypto markets.
“Losing $10 billion in capital from this industry is a huge blow. So it will take some time to recover.
Frankly, prices are also depressed as a result of all this, so I think we’re going into an even deeper bear market winter.
It may be long-term, we will not experience another Bitcoin halving until March 2024. It will take some time, and I think this is the next big event that could lead us out of the bear market.”
Unfortunately, the situation has been the same for the industry for the last 11 years I’ve been in, so we have to keep walking up this hill, maybe we should run towards this hill for a while to gain some ground.”
But this is a war and a marathon, and I don’t think we’re going to be complacent as an industry, he said.
I think there will continue to be bad actors that come in and we have to get them out. There will continue to be blows and misleading information against the industry.
Ultimately, I think we need to remember why crypto is here; which is basically bringing Bitcoin and financial freedom to the whole world.” he added.
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!