#Sonny singh bitpay series#

“That could cause a catapulting event to cause things to start going down pretty quickly and could see it go down from 45 to 40 to 35 down to 30 or things like that, but I think the floor would be $20,000. He suggested that the selling pressure of $200 million sell orders would cause a scene as the industry hasn’t witnessed it ever before. While several have been putting out conjectures of Bitcoin being a bubble that’s ready to burst soon, Singh proposed that the king coin would not go lower than $20K. Singh jumped on to the bandwagon and predicted that Bitcoin hit somewhere between $40K to $45K in the next month. All those buyers that bought in, they said ‘Oh were into Bitcoin now for a three to five-year time horizon,’ which is great, but I think if Bitcoin hits $45,000 next month or so, they’re going to say, ‘wow we just made 2x, you know, we don’t need that three-year horizon anymore, let’s start selling some.’” “A lot of the institutional buyers bought in around $20,000, so that would be my floor for how far Bitcoin could go down. Economics - EY said it will hire 2,000 employees in India in the next three years to expand its digital solution services - Sonny Singh, COO of BitPay. While the members of the crypto community are overwhelmed by the adoption rate of the king coin, Singh suggested that institutional investors could say sayonara after garnering the profit they require, which could be sooner than expected.Īppearing in a recent interview with Bloomberg Singh said,

However, the Chief Commercial Officer of BitPay, Sonny Singh pointed out that it was nothing more than a minor blip. Over the past few days, Bitcoin was seen retracing which was alarming for a few. BTC currently resides at $35,166.42, with a price change of 11.38% in the last 24-hours.

#Sonny singh bitpay series#

Bitcoin Could Lose Balance If Institutional Investors Start Selling Sooner Than ExpectedĪ series of all-time highs was recently achieved by the king coin.

BitPay’s CCO Sonny Singh, however, has his own stance on the whole thing. With some predicting that the bull run could fuel the assets drive to $100K, a few others are staying cautious fearing the repetition of 2019. While Bitcoin has managed to lure institutional investors into the crypto realm, the world seems to be speculating the future of the asset. Bitcoin’s journey to $35K has got several people eyeing the king coin. chief commercial officer, discusses the landscape for cryptocurrencies with Bloombergs Emily Chang on 'Bloomberg Technology.