Crypto Establishes Its Supremacy And Attracts New Supporters

the crypto environment is getting more and more confusing. The continued decline of cryptocurrencies is becoming more concrete every day. While bitcoin is in everyone’s conversation, it not only attracts antipathy but also has proponents. After Michael Saylor and Changpeng Zhao, it’s Rick Rieder’s turn to speak out in favor of the flagship crypto.

Bitcoin and Rick Rieder, what relationship?

Bitcoin falls, but the impact remains intact. For many months now, cryptocurrencies in general have been facing a downward trend that is of more concern than one. Some openly show their grief and others prefer to remain silent. However, since the start of the crisis, opinions have been converging. Among these are the reactions of the supporters of the queen of cryptos.

While markets are on high alert, avid bitcoin supporters remain confident and unconcerned about where the charts are headed. First Michael Saylor, then Dave The Wave and Changpeng Zhao. All are convinced that the bearish trend of bitcoin should not deter investors. While Binance’s CEO is considering an even bigger drop, his colleague believes it could reach $39,500 soon.

It is practically in the same momentum that Rick Rieder’s exit is registered. A successful investor, Rieder is the Chief Investment Officer of BlackRock, an investment manager. After serving as Vice President at the US Treasury and CEO of R3 Capital Partners, he now manages assets worth approximately $2.4 trillion. The current state of the financial markets is driving more and more investors to despair. But he sees bitcoin as a sustainable asset.

the crypto environment is getting more and more confusing.  The continued decline of cryptocurrencies is becoming more concrete every day.  While bitcoin is in everyone's conversation, it not only attracts antipathy but also has proponents.  After Michael Saylor and Changpeng Zhao, it's Rick Rieder's turn to speak out in favor of the flagship crypto.
Rick Rieder

Any crypto investment is looking bad right now. However, trading is for the long term in the crypto industry. Given in an interview to Yahoo Finance, the director said that digital assets have a future and that it is all a sustainable business. The start of the leverage that was built around bitcoin is a clue to take into account. Despite the fine words, the price of bitcoin remains uncertain as inflation rages.

Nice words and expectations around BTC

More and more financial experts are coming to defend bitcoin, but prices don’t seem to support them. The price drops a little more every day. Currently, bitcoin is trading at around $20,750, down about 11% in the past 24 hours. Compared to last week, the price of BTC is significantly lower. These variations create panic and scare the negotiators.

However, the main proponents of cryptocurrencies and especially bitcoin are holding on to their guns. Despite an 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 must undergo another correction. This price correction will then trigger a bull run and the lights can turn green. For him, the difference will be noticeable in a few years, even two to three years.

As a result, almost all of them have the same opinion about 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 bottom price. According to him, the crypto could reach $100,000 by 2025. At the moment, the flagship crypto is still being adopted and its value will increase as the supply decreases.

The bearish run that bitcoin is currently going through does not leave people indifferent. However, among them stand out those who are firmly convinced that the price will eventually rise. Rick Rieder is one of those who don’t worry about falling markets and hope for a recovery in a few years.

Source: Finbold

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Eddy Senga

The world is changing and adaptation is the best weapon for survival in this undulating universe. As a crypto community manager at the grassroots level, I am interested in everything directly or indirectly related to the blockchain and its derivatives. To share my experience and make known a field that fascinates me, there is nothing better than writing informative and relaxed articles at the same time.

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