Thomas Peterffy, the chairman and founder of Interactive Brokers Group Inc., is patiently waiting for a deeper retrenchment in bitcoin, as the industry digests the latest scandal to rock the digital-asset landscape.
Major crypto platform FTX filed for bankruptcy last week, amid reports that it used customer funds to back an affiliate hedge fund founded by then-FTX CEO Sam Bankman-Fried. Peterffy’s hope that bitcoin deepens its current slump by a further 25% perhaps belies his otherwise upbeat view on the nascent sector that has been dogged by downbeat news and self-inflicted wounds.
As for traditional markets, Peterffy said he still makes the case that the S&P 500 SPX is likely to see a 20% drop over the next nine months, as investors come to terms with weaker corporate earnings, companies weighed by higher interest rates and inflation.
Sure he was
Nah. BTC will go below $10k.
Bitcoin has first mover market advantage. But still, who is it to say how valuable it is given unlimited substitution. Still, you don’t even know the mystery guy who invented it. It is not gold with limited supply, traded with thousands of years. It is also not official currency
Can't sell your Bitcoin if they won't let you take it back from the platform that was 'holding it for you'.
Answer: Bitcoin is the long term safe haven. Enough people realize this, are buying and will keep buying even if it drops to expected cycle lows of 10-12K. More are also now getting educated on self custody.
It will Tommy, give it time. Another week or so. Binance is next up.
This is the guy to listen to. He gave the only honest analysis during the GME debacle
Give it time my friend.... Give it time There's solid TA that takes it to 10,200 and I have seen some evidence down to 8,000
Just like during the bull run when everyone is expecting $BTC to go to 100k.... the crypto bottom was already in at around 15k
Give it time....the whales who own most of the bitcoin are still scrambling to screw each other over the remnants.
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