Kraken CEO on Bitcoin correction: "I'm thinking $100k, maybe $1m"

27 Jun, 2019
by Ryan Boltman
News
Kraken CEO on Bitcoin correction: I'm thinking $100k, maybe $1m

Kraken exchange CEO Jesse Powell believes Bitcoin should be trading between $100,000 and $1 million according to his recent tweet.

The Kraken exchange CEO took to Twitter regarding the recent Bitcoin surge in price, which saw Bitcoin climb to nearly $14,000 before dropping to $12,500. While everyone was excited about the parabolic move but the retrace appeared to get traders nervous again. While Bitcoin has seen over 200% gain in 2019 alone, Powell took to Twitter to give his opinion on the recent correction.

Powell states that he believes Bitcoin should be trading between $100k and possibly $1 million. Those figures do not come as a surprise as many Bitcoin enthusiasts have echoed similar sentiments. John McAfee has also previously mentioned that he believes BTC could go to $1 million. 

While a parabolic move is often expected to see some correction, the recent correction now has Bitcoin testing the $12,000 level and could possibly drop even lower.

BTC/USDT Chart provided by Tradingview

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Read more about: Jesse Powel Kraken

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