Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>The CEO of Crypto.com considers Bitcoin’s recent price correction as a healthy part of the market cycle.</li>
 <li>He attributes the cryptocurrency’s surge to the inflows from Bitcoin ETFs and believes the current market cycle resembles December 2020 or January 2021.</li>
</ul>
<p>The CEO of Crypto.com, Kris Marzsalek, sees the recent price correction of <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> as a positive sign.</p>
<p>He views this as a part of the ongoing market cycle, likening it to the period of December 2020 or January 2021.</p>
<h2 id="bitcoin-etfs-driving-the-market">Bitcoin ETFs Driving the Market</h2>
<p>Marzsalek believes that the surge in Bitcoin’s value, which has risen over 150% since last year, is primarily due to inflows from Bitcoin ETFs.</p>
<p>He stated, “This is a very successful product,” adding that the shortage of supply must be reflected in the price.</p>
<p>On March 12 alone, net inflows into spot Bitcoin ETFs exceeded $1 billion, highlighting the success of these new products.</p>
<h2 id="the-current-market-cycle">The Current Market Cycle</h2>
<p>When asked about the current market cycle, Marzsalek said that the recent price correction, which saw Bitcoin’s price decline from over $73,000 to about $65,000, was healthy.</p>
<p>He explained that this was a necessary step in removing some of the leverage that had built up in the system.</p>
<p>He also expressed his desire for steady inflows into the industry, into Bitcoin, and other coins, to ensure a sustained market run for 12 to 18 months.</p>
<p>Marzsalek also shared his views on the role of retail participants in Bitcoin’s current market dynamics.</p>
<p>He believes that the market cycle still has some way to go, stating, “We sit on a ton of proprietary data, so we can look back at what happened in the 2021 cycle from a retail perspective and compare it to what’s happening now.”</p>
<p>According to his analysis, the current price movements of Bitcoin are largely driven by the options market, with volatility levels being relatively low compared to previous cycles.</p>
<p>He concluded by expressing his belief that Bitcoin is an asset worth holding for decades.</p>

Crypto.com CEO Considers Bitcoin’s Price Drop ‘Healthy’, Relates Market Phase to Dec 2020

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