The number of daily confirmed Bitcoin transactions peaked for 5 months

Bitcoin (BTC) is trying to keep a profit today as the threat of a major correction grows. The long-term outlook is extremely bullish, at least according to a cryptocurrency exchange executive.

Bitcoin exceeds 100,000 USD

Dan Held, the business development director of the Kraken exchange, had a discussion with Alex Saunders, CEO of Nuggets News, about the global market situation, why Bitcoin is hard money, and how to do it. It is consistent with the macroeconomic system.

Held started with BTC in 2012 after learning about the 2008 financial system crash. electronic.

He said the context now is very different from the different products and the involvement of organizations. This could spur a “super cycle” with lots of fiat currencies flowing into the market, which would bring Bitcoin's price up to $ 100,000 immediately.

Currently, the total market capitalization of cryptocurrencies is about 275 billion USD – this number is still smaller than some US technology giants.

Saunders owner added that “flood discharge” can be opened when new trillions of dollars are poured into the financial market once the interest rates are negative.

Held continues to comment, as prices rise, many people talk about BTC and it is covered on mainstream media channels, which will add fuel to FOMO.

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On the negative side, there have been concerns about a crackdown in the US from banks and politicians, who see Bitcoin as a threat to their own financial system.

He said one of the best moments of 2019 for him was when U.S. Federal Reserve Chairman Jerome Powell said that Bitcoin was a speculative store of value.

“Bitcoin is now recognized as a valid candidate for store of value by the world's most powerful financial institution.”

Held said he couldn't be more bullish and things have not really started in terms of large investment and cash flow.

That's all the most intriguing for Bitcoin and the CEO of this crypto industry is bullish than ever.

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According to Bitcoinist
Translated by ToiYeuBitcoin

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