The co-founder and ex-chief executive officer of U.S-based crypto exchange Kraken, Jesse Powell, has forecasted that the approaching Bitcoin having can push the initiation of the upcoming bull market.
Powell was recently seen in an episode of the Bankless podcast. In the podcast, he discussed the complete condition of the crypto space after the unexpected fall of FTX and guessed what could push the space out of the continuing bear market.
“It is barely a big hit to lose $10 billion in capital from this space. To have that just theft away, that could have gone to excellent and taken the space forward. So, it is going to take some time to retrieve from,” he revealed.
Furthermore, Powell stated that the consequence of FTX provided billions in losses to various retail users along with institutions, leaving the crypto industry with fame to restore, which will eventually take some time. Although, he said the approaching Bitcoin halving, which is anticipated to happen in the first half
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