EXCLUSIVE: Could Bitcoin Have A Supercycle? Is It Easier To Buy Bitcoin? Price Predictions? Kraken’s Dan Held Weighs In – Converted Organics (COIN)

    Despite a pullback from highs near $65,000 earlier this year, Bitcoin (CRYPTO: BTC) is in the middle of a bull run, Kraken Director of Growth Marketing Dan Held told Benzinga in an interview Tuesday.

    Bitcoin In 2021: Bitcoin’s journey in price is important, Held said during the 2021 Benzinga Crypto Festival.

    “Price brings around more awareness,” Held noted.

    Bitcoin went from around $10,000 to $65,000 in 2021, putting the cryptocurrency in a very interesting spot.

    “I don’t think we’re in a bear market, we’re probably in the middle of a bull run.”

    Held said Bitcoin is becoming globally recognized, a store of value and considered gold 2.0 by many.

    Why Bitcoin?: Satoshi Nakamoto planted Bitcoin in the middle of the 2018 financial crisis as banks were being bailed out.

    “Satoshi saw this corruption,” Held said.

    Statements from Nakamoto indicated he wanted Bitcoin to replace banks.

    “The U.S. government is printing trillions of dollars annually,” Held said, referencing inflation and rising prices of goods and services.

    Bitcoin offers protection against inflation, Held adds. Bitcoin also doesn’t require trust, something that banks had to worry about.

    Bitcoin competes with gold and fiat money. Held said the cryptocurrency could also compete with real estate, which is currently a huge store of value. When Bitcoin disrupts this industry, Held sees even more runway.

    Related Link: Coinbase Rival Kraken Plans Europe Expansion, IPO By End Of The Year

    About Kraken: In 2013, Held was part of a 2013 crypto meetup group that included the founders of Kraken, Litecoin (CRYPTO: LTC) and Coinbase Global Inc (NASDAQ:COIN).

    “Kraken is one of the oldest Bitcoin exchanges out there,” Held said.

    Kraken holds a number two market position in the U.S. and number one in Europe as a Bitcoin exchange.

    “Kraken is a financial powerhouse of the crypto world,” he noted.

    Held said Kraken offers Bitcoin and other cryptocurrency trading, futures and an OTC desk.

    Related Link: Take your crypto portfolio to the moon at Benzinga’s Crypto Festival, Aug. 31 and Sept. 1. 

    What’s Next For Bitcoin: If we follow the last bull run of Bitcoin, Held sees Bitcoin hitting a price of $300,000 by the end of the year.

    Following patterns of the last run, other crypto analysts see Bitcoin hitting a price of $150,000 to $200,000 by the end of the year.

    “Or we could have a supercycle, where Bitcoin’s growth becomes even faster,” Held said.

    A supercycle could happen if the whole world wakes up to Bitcoin’s value, including banks, institutions and retail investors, Held said.

    “It’s never been easier to buy, never been easier to learn about Bitcoin.”

    Held’s two-year prediction calls for a 70% chance that Bitcoin hits a range of $200,000 to $400,000, 20% chance Bitcoin is under $200,000 and a 10% chance that Bitcoin is over $400,000 two years from now.

    Photo: Andre Francois McKenzie via Unsplash

    Related articles



    Please enter your comment!
    Please enter your name here

    Share article

    Latest articles

    Ethereum ‘about to go parabolic’ against Bitcoin as analysts weigh BTC bear case

    Ethereum’s Ether token (ETH) is due to launch a “parabolic” attack on BTC to beat all-time highs, one analyst believes.2-week predicts “crazy” ETH moveETH/BTC...

    ‘It’s going to be very obvious that every bank needs to become a crypto bank,’ says CEO of bank to nab 1st federal charter...

    Happy Thursday! Welcome to Distributed Ledger, our weekly crypto newsletter. I’m Frances Yue, crypto reporter at MarketWatch, and I’ll walk you through the latest...

    Academic research claims ETH is a ‘superior’ store of value to Bitcoin

    Australian university researchers have questioned Bitcoin’s reputation as the best store of value network in cryptocurrency, with Ethereum on track “to becoming the world’s...

    SHIBA INU: What the Charts Say Is Next for Shiba Inu

    It’s been a wild ride for Shiba Inu (CCC:SHIB-USD). The cryptocurrency got hot in early October, then exploded higher at the end of the...

    NEKTR Set to Become the World’s First Pro-Medical Cannabis NFT Gaming Platform

    RICHLAND, Wash., Dec. 2, 2021 /CNW/ -- At a time when most countries still maintain a tough legal regime prohibiting the use and supply...


    Subscribe to stay updated.