- Dan Held recently made an appearance on The Breakdown podcast where he spoke on what’s changed since the last time bitcoin was up to $10,000.
- Held specifically talked on what the price is reflecting in the industry and said that the aggregate belief in what its value is can be is somewhat subjective.
Earlier this week the prominent and popular crypto commentator, Anthony Pompliano spoke on the leading cryptocurrency following its surge up to $10,000 on the 9th of February. In his opinion, this is just the start of the flagship cryptocurrency being able to reach $100,000 by 2021.
Around four months since the leading cryptocurrency fell under the $10,000 mark, some commentators would say that that would be the end of the cryptocurrency. Despite this, there has been a lot of institutional adoption with more development and better investment vehicles going on within the industry. The director of business development and cryptocurrency at the Kraken platform, Dan Held, has recently made an appearance on The Breakdown podcast where he spoke on what’s changed since the last time bitcoin was up above the $10,000 level.
Held specifically talked on what the price of bitcoin is reflecting in the industry and said that the aggregate belief in what its value is can be is somewhat subjective. He also spoke about how fear and greed are simply manifested into the price - and quite heavily at that.
He said “when Bitcoin was $3000, a lot of people were very afraid,” whilst highlighting how most people in the community would jump at the opportunity to buy it at that price today.
As an aggregate reflection of market sentiment, Held also believes Bitcoin’s price is a signal of its legitimacy to the rest of the world. With the bottom having already been printed, and Bitcoin’s successful defence of price dips down to $6500, it looks like we could be in a strong buyers market.
As an aggregate reflection of the mood of the market, Held also thinks that the price of bitcoin is a signal of it being a legit asset for the rest of the world. With the bottom having already set, the successful defence of dips in the price for the leading cryptocurrency down to $6,500, it looks like we could be in for a strong buyers market in the near future.
Following off what Pompliano said earlier this week, Held said the following:
“Bitcoin is very much at the start of a bull run.”
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!