the cryptographic environment is becoming increasingly confusing. The continuing decline of cryptocurrencies is becoming more and more specific. While bitcoin is in everyone’s conversation, it not only attracts antipathy, it also has proponents. After Michael Saylor and Changpeng Zhao, it’s Rick Rieder’s turn to speak in favor of flagship cryptography.
Bitcoin and Rick Rieder, what relationship?
Bitcoin is falling but its impact remains intact. For many months now, cryptocurrencies in general have been facing a downward trend that worries more than one. Some openly express their distress and others prefer to remain silent. However, opinions have followed one another since the beginning of the crisis. Among these, the reactions of supporters of the Queen of Crypts.
Even though the 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. Everyone is convinced that the downward trend in bitcoin should not scare investors. While the CEO of Binance is considering an even bigger drop, his colleague believes it could soon reach $ 39,500.
It is on this very impulse that the departure of Rick Rieder is recorded. A successful investor, Rieder is the chief investment officer of investment management firm BlackRock. After serving as Vice President of the U.S. Treasury and as CEO of R3 Capital Partners, he now manages approximately $ 2.4 trillion in assets. The current state of financial markets is despairing more and more investors. But he sees bitcoin as a lasting asset.
Any cryptocurrency investment looks bad right now. However, the trade is long-term in the cryptographic industry. In an interview with Yahoo Finance, the director said that digital assets have a future and everything is a sustainable business. The take-off of the leverage effect that had been built around bitcoin is a clue to keep in mind. Despite the good words, the price of bitcoin remains uncertain as inflation worsens.
Good words and expectations around BTC
More and more financial experts are defending bitcoin, but prices don’t seem to support them. The price goes down a little more every day. Bitcoin is currently trading at around $ 20,750, down 11% in the last 24 hours. Compared to last week, the price of BTC is significantly lower. These variations create panic and frighten negotiators.
However, the main proponents of cryptocurrencies, and bitcoin in particular, are sticking to their weapons. Despite a growing decline, they remain convinced that this is the right solution for the market recovery. Like Changpeng Zhao, Rick Rieder is convinced that the market needs another correction. This price correction will then lead to a bullfight and the lights may turn green. For him, the difference will be noticed in a few years, even two or three years.
As a result, almost everyone has the same opinion about the future of bitcoin. Another expert has been added to the list by analyzing the price of BTC. Mike McGlone, senior commodity strategist at Bloomberg I think $ 20,000 should be considered a minimum price. According to him, cryptography could reach $ 100,000 by 2025. For now, flagship cryptography is still 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 their price will end up rising. Rick Rieder is one of those who do not care about the fall of the markets and expect 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 a grassroots crypto community manager, I am interested in anything directly or indirectly related to the blockchain and its derivatives. To share my experience and share a field that fascinates me, there is nothing better than writing informative and relaxed articles at the same time.