Specialist digital asset brokers Octagon Strategy say they are "optimistic" about the future of Bitcoin, even despite the cryptocurrency's current price slump and potential headwinds that could stand in its way.
Ryan Rabaglia, chief trader at Octagon Strategy, said in an interview with CNBC that Bitcoin is still in its development stage, but it already has enormous potential. Speaking about why his company is bullish on Bitcoin, he explained that "the Bitcoin market is 8 years old and has shown tremendous growth year after year - that's an impressive result."
"I think it's important to remember where we started and remember how year after year the price of Bitcoin has increased by hundreds of percent"
When asked about the negative effects of regulation, Rabaglia said there are two sides to the issue. medals:
“The uncertainty that plagues market participants is dragging the price of Bitcoin down,” he said. However, the same uncertainty and uncertainty can play into the hands of cryptocurrencies. Becauseonce we have the necessary regulations in place, traditional professional traders will have regulatory support when entering the market.”
Octagon Strategy is not the only company betting on Bitcoin to rise even despite price dips. Arthur Hayes, CEO of BitMEX, also believes that the decline in value will not last long. He recently said that the price of Bitcoin could reach new highs.
“By the end of the year, with reasonable regulation or SEC rulings, the price of Bitcoin could reach both $20,000 and $50,000,” he believes.
Octagon Strategy CEO Dave Chapman, who successfully predicted a bull run late last year, advises Bitcoin owners to relax and ignore price fluctuations. According to him, Bitcoin can reach $100,000, and “no one can stop this.”
According to ccn.com
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