Crypto billionaire, the founder of the exchange FTX, Sam Bankman-Fried, expressed his views about the future price of Bitcoin during a recent interview with Yahoo Finance.
Related: Mike Novogratz urges not to pay attention to the fall of BTC
He is sure the crypto trading trend came to stay. Sam Bankman-Fried said he would be surprised if there wasn't at least one more thing coming out.
Talking about institutional investments, the FTX CEO said although the institutional money flow has been dropping off more speculative bets, investments will come in.
Sam Bankman-Fried said it might take months or years as generally large institutions are making "decade-long" decisions about their business steps.He mentioned that currently, there are fewer riskier trades on borrowed money or margin to be liquidated compared to the major selloff that happened in May. So, according to the entrepreneur, the possibility for those who drive things down, causing the market froth, is less now. Bankman-Fried says this is a good indicator. It is not a bullish sentiment, but at least people are no longer holding net-risky long positions.
Besides institutional adoption, another factor that can make the BTC price go higher is the governments' legalization of crypto following El Salvador.
Trending: Salvadorans are against buying bitcoins at the expense of the budget
Presently, Bitcoin trades at around $33.400, 48% down from its all-time high of $64.800 reached in April.