While Powell is not afraid of the winter season of cryptocurrencies, Choi foresees an increase in the number of people who use them. The metaverse could contribute to the massive use of crypto assets, and Tesla could accept the DOGE memecoin as a payment method.
In December, the streets in the world are usually full of people celebrating the arrival of the Christmas season. However, the cryptocurrency market is going through a critical period that has affected the price of most participants.
Kraken CEO Is Not Worried about the Current Cryptocurrency Crisis
Jesse Powell, CEO of the exchange Kraken, recently commented that Bitcoin could drop in 2022. However, he anticipated a sell-off of Ether (ETH), BNB, Solana (SOL), Cardano (ADA), and XRP.
Although Powell believes that cryptocurrencies are entering a winter season, he does not seem to worry about it.
The executive recommended that Americans stock up on food and pay all debts or bills in advance. He predicted that interest rates would rise to unsustainable levels very soon. For that reason, he advised not to acquire debt that is difficult to pay or not adjusted to the socioeconomic condition of each person.
Emilie Choi Expects More Cryptocurrency Users in the Coming Years
The president of Coinbase, Emilie Choi, recently spoke about the upcoming scenario for cryptocurrencies. She also commented that the uncertainty surrounding current regulations hampers the advancement of those assets.
However, she expressed her optimism about the number of cryptocurrency users in the years to come. In that particular, she estimated that close to one billion people would use Bitcoin within approximately five years.
Leading Banks Consider the Metaverse Will Influence Cryptocurrencies
The development of the metaverse has attracted the attention of the leading financial institutions worldwide. They believe that those digital worlds are crucial for cryptocurrencies to find their place in society.
The research director of Bank of America said that cryptocurrencies could become massive in that virtual universe. Besides lower payments for services, the use of crypto assets includes higher expenses such as acquiring land and cars.
A CoinMarketCap Error Briefly Indicates Users Are Millionaires
Cryptocurrency price tracking website CoinMarketCap recently had an error/bug for a brief moment. The data from the platform showed some unusual figures on the prices and market capitalization of cryptocurrencies.
Users could appreciate the pronounced fluctuations in the prices of the leading cryptocurrencies on the market. In that regard, those in charge of the platform said they would restart their servers, although they had already solved the problem.
Elon Musk Announces Tesla Will Accept Payments with Dogecoin
Billionaire businessman Elon Musk recently announced that Tesla could offer new merchandise people would buy with Dogecoin. He tweeted that he was willing to have his company accept the memecoin as a payment method.
The CEO of Tesla said the electric car company would launch merchandise purchasable with DOGE to assess its progress. However, there is no confirmation yet that they will allow cryptocurrency transactions.
The current drop in cryptocurrency prices has caused a lot of concern in the community. However, this is not the first time this has happened in the crypto market. Some analysts are optimistic that Bitcoin and altcoins will rally next year.
By Alexander Salazar
