The price of the first cryptocurrency may drop to $ 40 thousand and even fall even lower. This option for BTC correction was made by the CEO of the Kraken crypto exchange Jesse Powell during an interview with Bloomberg TV.

Powell admitted that he bought bitcoin this summer when it fell to $ 28 thousand. The head of Kraken considers the current drawdown of the BTC price a good opportunity to buy BTC at a lower price.

Recall that on December 4, the value of bitcoin fell to $ 42 thousand for the first time since the end of September this year. The sharp drop in the first cryptocurrency led to a massive liquidation of buyers’ positions in the amount of $ 2.5 billion.

At the time of writing the news, the price of BTC was about $ 47.9 thousand.