Bitcoin has seen its price fall again, down over 20% from its high, with this being potentially the fourth straight week of declines, Yahoo Finance writes.
There have been crypto analysts looking at the risks, including that selling in a highly leveraged asset like bitcoin could compound if there’s a fall below a certain price level. In that case, indebted holders might be forced to liquidate.
Michael Saylor, CEO of MicroStrategy, was among those keeping positive about it all.
He said he doesn’t see a great deal of obstacles to the price of the coin going higher.
“The only legitimate risk is a black swan – an unknown unknown,” he said in an interview. He dismissed some potential challenges: “Has it been hacked? No, it hasn’t been hacked. Is it going to be banned? No, it’s not going to be banned. Can it be copied? We copied it ten thousand times. Every copy has failed.”
In Saylor’s view, the price of the coin could “go up forever,” with some of the main factors being technology adoption and inflation.
Meanwhile, Bank of Thailand officials aren’t making it…
