Kraken CEO: Any Price Below $40,000 for Bitcoin is a Buying Opportunity

In an interview on Tuesday, Jesse Powell, CEO of cryptocurrency trading platform Kraken, said that bitcoin and the cryptocurrency ecosystem has historically evolved based on a "bitcoin halving" cycle, TokenInsight said. But despite the potential looming cryptocurrency winter, Powell is confident that the market will rebound from the bear market once investors start buying. Powell sees any price below $40,000 as a buying opportunity, having personally bought when it dropped back closer to $30,000 a few months ago. "I think a lot of people are just waiting to come back at rock bottom prices. It's hard to know where it's going and remain bullish on bitcoin in the long term. When you look at the long-term trend line for bitcoin, it just keeps going up. I always tell people, 'If you're considering buying bitcoin, think of it as a five-year-plus investment."