Bitcoin and Other Cryptocurrencies Will Grow Again, According to Sam Bankman-Fried
In an interview with Bloomberg, the FTX boss shared his thoughts on the state of the crypto market. He said he was not very worried when he saw the price of the leading cryptocurrency drop below $30,000 in May of this year. The recent decline below $20,000 was attributed to Federal Reserve Chairman Jerome Powell’s speech in which he said the Fed would remain hawkish for longer than expected. When asked if crypto will make a comeback, Bankman-Fried said yes.
He believes that the crypto market followed the stock market crash and, thus, if the latter is going to return, so is crypto. When Bitcoin started to fall in May, the CEO of FTX expected the road to be “rocky” from the start. In addition, it lived up to his expectations, as many crypto businesses broke due to the massive price fall of crypto.
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