Crypto.com, a digital asset exchange based in Singapore, is optimistic about the future of Bitcoin’s bull market cycle. CEO Kris Marszalek believes that the upcoming halving event, which will reduce miners’ rewards by half, will have a positive impact on Bitcoin within the next six months. However, he cautions that there may be some selling of Bitcoin in the short term.
Marszalek explains that the halving event will improve the overall market situation by reducing the amount of Bitcoin being sold by miners. While the effects may not be immediately apparent, over a six-month period, the impact will be substantial. He sees this as a very positive development for the market. However, he acknowledges that there may be some selling activity as the halving event approaches due to the tendency for investors to “buy the rumor, sell the news.”
In terms of investment strategy, Marszalek advises holding Bitcoin for a long period of time, measuring it in years, if not decades. He strongly recommends adding it to one’s investment portfolio, particularly for those with a long-term time horizon. He predicts great performance for Bitcoin in the next six months.
Marszalek also notes that retail demand for Bitcoin is currently lower than in the previous cycle but expects it to increase. He reveals that Crypto.com plans to expand its services to other jurisdictions as it has nearly completed its regulatory licensing requirements in major markets.
At the time of writing, Bitcoin is trading at $61,914, experiencing a decrease of over 4% in the last 24 hours.
In conclusion, Crypto.com’s CEO expresses optimism about the future of Bitcoin’s bull market cycle, citing the upcoming halving event as a positive development. He advises a long-term investment approach and expects retail demand for Bitcoin to increase. The company also plans to expand its services to other jurisdictions.
