March 20, 2023

Dubai Week

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Bitcoin moves in a wave every 4 years

Bitcoin moves in a wave every 4 years

Leading figures such as Talal al-Tappa, co-founder of Queen Mena, and Bill Gates have opposed it. Cryptocurrency Other personalities, such as Elon Musk, President of Tesla, and Tim Cook, President of Apple, support this.

In an interview with Al-Arabiya on Wednesday, Talal al-Tabba added that the currency of Bitcoin is moving in waves every 4 years and is currently at the peak of 2017, reaching $ 20,000.

Al-Taba explained that the previous wave had a high price of $ 19.5 thousand in 2017 and 2018, then it dropped to $ 3 thousand, while the price of the previous wave reached $ 66 thousand.

According to Talal Al-Tabbaa, co-founder of Coinmena, we are in the process of discovering the original and appropriate pricing of digital currencies, as happened in the early stages of everything related to technology.

Talal al-Tappa said today that the rise in interest rates planned by the US Federal Reserve was the biggest reason for the fall in cryptocurrencies, which could rise to 0.5% or 0.75%, which could lead to higher risk assets. The digital currency was first sold by investors as it had cash flow to investors.

At present no one can determine the base of digital currencies because they always surprise us with ups and downs, and the investor for about 10 years is not affected by fluctuations in the short term, he explained.

He pointed out the significant difference in the nature of investors between 2017 and the current wave and the increase in the number of digital currency distributors.

He stressed the importance of investors in digital currencies handling a site that is licensed by regulatory authorities and has a strong reputation because these authorities have set requirements that prevent companies from accessing high-risk instruments, and sites that have recently stumbled upon are lending institutions. , And Bahrain’s central bank prevented borrowing on digital currency platforms.

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