According to Christopher Matta, who is a former vice president at the management division at Goldman Sachs, Bitcoin could hit the $15,000 mark this year. Matta said that he would still invest his mother’s money in Bitcoin.
In an interview with Fast Money on Thursday, Matta said that there is a lot of short-term volatility which is why people should invest for two to five years. In his own words, Matta stated:
“The bullish sentiment hasn’t changed over the last six months,” he said. “Regulators have started to step in. We think that more smart regulations can be good.If you’re bullish for the long term, $6,000 is a decent entry point,”
When asked about the introduction of Bitcoin futures and how they affected the cryptocurrency’s volatility, Matta said that volatility is now continuing at a heightened level. He also pointed out that it has been hard to determine if the futures impacted the volatility.
“I don’t think there’s necessarily causation there,” Matta concluded.
As Matta told CNBC in June this year, even for the most conservative investors, the risk with cryptocurrencies is ‘good’ compared to other asset classes, even with the volatility in mind. What’s interesting is that since Matta spoke to CNBC, Bitcoin has been down 7%. Right now, the price of the largest cryptocurrency by market cap is $6,330.
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