Coinmena co-founder Talal Al-Tabbaa said that while prominent figures such as Bill Gates oppose cryptocurrency, there are others who support it, such as Elon Musk, Tesla’s president, and Tim Cook, Apple’s president.
Talal Al-Tabbaa added, in an interview with Al-Arabiya, today, Wednesday, that the bitcoin currency moves in a wave every 4 years, and the price that it currently reached at 20 thousand dollars is the last peak in 2017.
Al-Tabbaa explained that the previous wave in 2017 and 2018 had the highest price at 19.5 thousand dollars, and then it fell to 3 thousand dollars, while the price in the previous wave had reached 66 thousand dollars.
Talal Al-Tabbaa, co-founder of Coinmena, said that we are in the stage of discovering the original and appropriate price of digital currencies, as happened with everything related to technology in its infancy.
Talal Al-Tabbaa added that the biggest reason for the decline of cryptocurrencies is the rise in the interest rate planned by the US Federal Reserve today, and it may raise it by 0.5% or 0.75%, and this leads to high-risk assets being sold first by investors, in light of the presence of liquidity at Digital currency investors.
He explained that no one can determine the bottom of digital currencies currently, because they always surprise us with the rise or fall, and the long-term investor for about 10 years to come is not affected by fluctuations in the short term.
He pointed to the significant difference in the nature of investors between 2017 and the current wave, and the increase in the number of digital currency dealers.
He stressed the importance of the investor in digital currencies dealing with a platform licensed by regulatory authorities and having a strong reputation, because these authorities set requirements to protect companies from entering into high-risk tools, and the recently stumbled platforms are companies that have borrowing, and the Bahraini Central prevented borrowing on digital currency platforms. , and allows her to practice buying and selling only.