the cryptographic environment is increasingly confused. The continuing decline in cryptocurrencies is becoming more concrete every day. Although bitcoin is in everyone’s conversation, it not only attracts a dislike, it also has supporters. After Michael Saylor and Changpeng Zhao, it’s Rick Rieder’s turn to speak in favor of the flagship cryptocurrency.
Bitcoin and Rick Rieder, what relationship?
Bitcoin falls but its impact remains intact. For many months, cryptocurrencies in general have been facing a downward trend that worries more than one. Some openly show their distress and others prefer to remain silent. However, opinions have followed one another since the start of the crisis. Among these, the reactions of the supporters of the queen of cryptocurrencies.
While the markets are on high alert, staunch bitcoin advocates remain confident and indifferent as to where the charts are heading. First Michael Saylor, then Dave The Wave and Changpeng Zhao. Everyone is convinced that the bearish trend of bitcoin should not scare investors. Although the Binance CEO is considering an even bigger drop, his colleague thinks it could soon reach $ 39,500.
It is practically in this same momentum that Rick Rieder’s release is recorded. A successful investor, Rieder is the Chief Investment Officer of the investment management firm BlackRock. After serving as Vice President at the US Treasury and as CEO of R3 Capital Partners, he now manages assets worth approximately $ 2.4 trillion. The current state of the financial markets is causing more and more investors to despair. But he sees bitcoin as a durable good.
Any cryptocurrency investment looks negative right now. However, trading is long-term in the cryptocurrency industry. In an interview with Yahoo Finance, the director said that digital assets have a future and that the whole thing is a sustainable business. The take-off of the leverage that was built around bitcoin is a clue to be taken into consideration. Despite the nice words, the price of bitcoin remains uncertain as inflation rages.
Nice words and expectations about BTC
More and more financial experts are coming to bitcoin’s defense, however prices don’t seem to be supporting them. The price drops a little more every day. Currently, bitcoin is trading around $ 20,750, which is about an 11% drop in the last 24 hours. Compared to last week, the price of BTC is significantly lower. These variations create panic and frighten the negotiators.
However, the main proponents of cryptocurrencies and bitcoin in particular are holding on. Despite an ever-increasing decline, they remain convinced that this is the right solution for a market recovery. Like Changpeng Zhao, Rick Rieder is convinced that the market needs to undergo another correction. This price correction will then cause a bull run and the lights may turn green. For him the difference will be noticed in a few years, even in two or three years.
As a result, they are almost all of the same opinion on the future of bitcoin. Another expert added to the list by analyzing the price of BTC. Mike McGlone, Senior Commodity Strategist at Bloomberg think $ 20,000 should be considered a minimum price. According to him, the crypto could reach $ 100,000 by 2025. At the moment, the flagship cryptocurrency is still in the process of being adopted and its value will increase as supply decreases.
The bearish race that bitcoin is currently experiencing does not leave people indifferent. However, among them stand out those who firmly believe that its price will eventually rise. Rick Rieder is one of those who do not care about the decline in the markets and who are hoping for a recovery in a few years.
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The world is changing and adaptation is the best weapon to survive in this undulating universe. As the crypto community manager at the base, I am interested in anything directly or indirectly related to the blockchain and its derivatives. To share my experience and introduce a field that fascinates me, nothing better than to write informative articles and relax at the same time.