Cryptocurrency predictions for 2022 are here. According to the chief executive of Kraken crypto exchange, Jesse Powell, "Americans should stock up on essentials and prepay their health care bills and tuition before the US dollar crashes in 2022." Powell has predicted the decline in the value of Bitcoin to below $40,000 next year. He has also asked investors not to hold their currencies in dollars, citing that interest rates going negative and soaring inflation.
During an interview with Bloomberg TV, Powell added, "Investors should take on as much dollar debt as they can because "there will be a jubilee at some point." However, Powell's predictions back in August were bullish as he said that Bitcoin could reach $100,000 by the end of this year or early 2022, citing the moon is the bare case for cryptos.
He also highlighted his Bitcoin price predictions in 2011, which were bullish when he said that he thought investors would be in flying saucers and people would be paying for coffees in Bitcoins.
But the CEO of Kraken exchange thinks that people should hold their coins for not less than 5 years. Because, looking at the long term trend line of Bitcoin, it's good to do a buy and hold investment.
On Thursday, the Dollar Index tanked by 0.28%, while the Sterling rose by 0.40% to $1.3316, and Euro grew by 0.19% to $1.1307.
Kraken, a US-based crypto exchange was established in 2011. It supports over 90 cryptocurrencies and 7 fiat assets. The company is currently working on an NFT platform to give investors exposure to the burgeoning NFT market, apart from offering margin trading and futures contracts outside the United States. The company is also trying to bridge the educational gap for new users and get people more comfortable with cryptocurrencies.
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At the time of publishing, the world's largest cryptocurrency Bitcoin was trading at $46,299.88 down by -5.18% in a days trade.
Bitcoin is currently available for trading in Cryptocurrency exchanges such as Binance, CoinTiger, CoinFLEX, P2PB2B among others.
The International Business Times advises enthusiasts and investors of cryptocurrencies to be well aware of the latest trends in the crypto market and avoid any trading rumors.