Barry Silbert, CEO of Digital Currency Group, said he bought Bitcoin.
Silbert believes the crypto market has reached “maximum pain.”
“I feel we have reached maximum pain and uncertainty in the crypto industry”
Despite the recent massive blood loss, Silbert maintains his positive stance on crypto.
The Bitcoin Fear and Greed Index also remained at the extreme fear level the other day.
Arthur Hayes, former CEO of Bitmex, also warned investors of a “wild ride down”. Drawing attention to the contention of bears and bulls, Hayes said that the weekend was extremely critical for the markets.
Bitcoin slumped to an intraday low of $20,530 and the bears struggled to push it back below the key $20,000 support.
Galaxy Digital CEO Mike Novogratz stated that it will take some time for Bitcoin to fully recover from the decline. According to him, Bitcoin’s value could rise if the Fed stops raising interest rates.
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