In a recent interview with Bloomberg, Kraken CEO Jessee Powell said that there’s a possibility of Bitcoin dropping below $42,000.

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In the past Powell predicted that Bitcoin would hit $100,000 by the end of 2021, but now that there are only a few weeks left in the year, and Bitcoin is currently trading around $47,000, he’s not so sure anymore.

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Despite the possible crypto winter, Powell believes that if Bitcoin drops below $40,000, it would offer a buying opportunity for traders:

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“I think a lot of people see anything under the $40,000 as a buying opportunity. I was personally buying when we dipped back to $30,000 a few months ago. A lot of people have some dry powder on the sidelines just waiting to come back in at rock-bottom prices.”

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The Kraken CEO still believes Bitcoin is a good investment that should be considered more of a “five-year plus investment” than something you hold for a short period.

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