You can check the website statistics yourself or request them from us at [email protected]
On this platform, only organic high-quality traffic
Bitcoin
$ 30,725

Crypto.com CEO Kris Marzsalek Sees Bitcoin Price Correction as Positive Sign

During an interview with CNBC, Kris Marzsalek, CEO of Crypto.com, described the recent decline in Bitcoin price as a “healthy” market adjustment.

After a period of bullish momentum that propelled Bitcoin to unprecedented levels, the cryptocurrency encountered a correction, presently valued at $68,715 as per CoinMarketCap. With investors turning their focus to the dip, Marzsalek addressed this recent fluctuation, portraying it as a typical occurrence in the market’s cyclical pattern.

Bitcoin Dropping from $73,000 is “Healthy”

Marzsalek initially delved into the contributing factors shaping the current market dynamics, pinpointing the significant impact of Bitcoin exchange-traded funds (ETFs) in driving up the cryptocurrency’s value.

“The surge primarily stems from the influx of funds from Bitcoin ETFs,” Marzsalek stated. “There’s an issue with the supply side. Hence, it must be factored into the pricing.”

When questioned about Bitcoin’s drop from its peak above $73,000, Marzsalek provided a direct analysis. “I view it as a positive development,” he remarked, underlining the importance of such corrections in mitigating excessive market leverage.

Marzsalek advocated for gradual progress over sudden spikes, indicating that the ongoing activities would foster a more stable and sustainable market cycle in the next 12 to 18 months.

Marzsalek Sees “Steady Ramp Up” Ahead

Over the past few days, the volatility observed in Bitcoin has prompted inquiries into the immediate factors influencing its movement. Marzsalek clarified, drawing from Crypto.com’s extensive data, that the fluctuation mirrors activities in the options market and is not unusually high compared to past cycles.

“We can analyze the 2021 cycle from a retail perspective and juxtapose it with the current situation,” Marzsalek explained. “Likely in December 2020 and January 2021, we observed similar metrics.”

“This level of volatility is actually relatively low compared to what we’ve witnessed in previous cycles,” Marzsalek remarked.

Marzsalek foresaw a “steady ramp up” in the future as the market size expands and sudden dips occur less frequently.

“This is an asset meant for long-term holding, spanning decades, not just days or weeks,” Marzsalek concluded.

Related Posts

Leave a Reply

Confirm now and stay with our news

What we write about

I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

Latest Articles

Indonesian President Cautions Against Crypto in Money Laundering Risks
24.04.2024By
Coinbase Set to Launch $15 million Ad Campaign During NBA Playoffs: Report
24.04.2024By
Pharrell Williams And Louis Vuitton Launch NFT-Linked Jacket To VIA Holders
24.04.2024By

Latest news

Indonesian President Cautions Against Crypto in Money Laundering Risks
24.04.2024
Coinbase Set to Launch $15 million Ad Campaign During NBA Playoffs: Report
24.04.2024
Pharrell Williams And Louis Vuitton Launch NFT-Linked Jacket To VIA Holders
24.04.2024
SEC Delays Decision on Franklin Templeton’s Spot Ethereum ETF Application
24.04.2024
Hackers Expose Code Of El Salvador’s Bitcoin Wallet App Chivo
24.04.2024
Jack Dorsey’s Block Expands Bitcoin Mining Ambitions, Develops 3nm Mining Chip
24.04.2024
South Africa’s FSCA Confirms Licenses to 75 Crypto Service Providers
23.04.2024
Binance Lawsuit in Canada Following Securities Law Violation Allegations
23.04.2024
Velvet Capital, Backed by Binance Labs, Temporarily Offline Due to Phishing Attack Risk
23.04.2024
Square Enix Is Developing Its Ethereum NFT Game Symbiogenesis With Animoca Brands
23.04.2024