Crypto billionaire and FTX founder Sam Bankman-Fried believes Bitcoin and other cryptocurrencies will make a comeback. And it might happen soon.
In a recent interview with Bloomberg with FTX Head David Rubenshtein, he said he was very worried when he saw the price of the major cryptocurrency falling below the $30,000 level in May of this year.
The latest slump below the $20,000 level was triggered by Federal Reserve Chairman Jerome Powell, when asked if crypto could make a comeback. Bankman-Fried He confirmed that he believed that for the most part, the collapse of Bitcoin and the stock market was affected by the macroeconomic environment.
He thinks the crypto market moves behind the stock market when it is down. and if the stock market returns So does crypto.
When Bitcoin started to decline in May, FTX CEO expected the market to experience a tough period and there would be a lot of trouble. And in the end, it happened as he expected. This is because a lot of crypto businesses have gone bankrupt due to the huge drop in crypto prices.
Previously, Sam Bankman-Fried However, in a recent interview, he admitted that he did not expect all of these investments to be profitable, but that it would show “diverse results.”
Additionally, he added that a lot of things will be wiped out of the crypto market during the latest price drop.
Sam Bankman-Fried said that in his view The current crisis is not a long-term problem. And it will be, but there will be “another pain for the industry,” but the crypto market will start to reverse as the stock market recovers, the CEO claims.
The post Sam Bankman-Fried believes “Crypto will make a comeback” appeared first on Bitcoin Addict.