Bitcoin’s price movements are anxious, but Steve Gateman, a CEO of Griffon Digital Mining, has no reason to panic.
Talking to Rob Nelson, a round table host, Gateman claimed that Bitcoin’s volatility is part of a natural growth cycle, and its long -term outlook remains very powerful.
Nelson pushed back the fear surrounding the price fluctuations of bitcoin and noted that the BTC has slightly exceeded $ 90,000 to $ 100,000.
“I’m tired of being surprised by everyone. Bitcoin is 92 years old, 94 years old. I don’t know, that’s not so volatile,” said Nelson. “It’s going to be over 100s from the 90’s, and it seems to be a pretty decent volatility for this size asset.”
Gateman agrees, pointing out that Bitcoin is $ 60,000 in November, and recent price actions have increased significantly in a short period of time.
“People seem to forget it, right? And, whether we are 90 or 95, it is increasing significantly,” Gutterman says. “Oh, oh, looking at the scenery a little longer than the day or afternoon, you will see a very wonderful sustainable movement.”
At the time of writing, Bitcoin has been traded for $ 99,000 and has increased 2 % in the past 24 hours.
Nelson brought common concerns. Why do people panic when bitcoin soaks a few percent points? He shared his personal story about his young NE. He thought that the BTC was on the crisis of the collapse and the BTC fell to $ 92,000 and sent a text to him in fear.
Gateman believes that this anxiety is due to lack of understanding of the basics of bitcoin.
“Bitcoin has a lot of livelihood and not everyone understands the basics,” Gateman explained. “Interestingly, if people understand the basics, they are even more bullish, and I don’t think it will be so bad with a $ 500 or $ 700 drop during the afternoon. The outlook for the period is very positive.
For Gateman, the solution is easy: education. The more you understand the rarity of bitcoin, the tendency of adoption, and institutional support, the lower the possibility of panic during the fluctuation of the price.
Gateman remains bullish in the future of bitcoin. He pointed out the increase in the adoption of the government and the system. In the long term, we believe that BTC will push 200,000, $ 300,000, and more than $ 500,000.
“Nothing has changed,” Gateman said. “This is the only increase in the acceptance of bitcoin by government, sovereignty, and general people.”