HEX founder Richard Heart, who predicts that Bitcoin will fall to the levels of 10 thousand dollars, explained when BTC is expected to recover in a striking interview with Kitco News. He also predicted how Bitcoin would perform in the US recession.

The interview began with Heart addressing the people who disregarded the $10,000-odd BTC estimate and are currently at a loss. Heart criticized Michael Saylor, Three Arrow Capitals and Celsius for using leverage and believing in BTC's massive rise. He announced that MicroStrategy, owned by Saylor, had lost 90% of its value.

According to Heart, BTC has traditionally fallen by around 85% all the time. According to him, investors like Saylor delayed the inevitable drop to $17,000. According to Heart, Bitcoin would have already bounced back from this level.

crypto analysis-1

In response to a question about Bitcoin's performance during a recession, Heart explained that he expects this coin to perform well during a recession. According to him, cryptocurrencies are strongly correlated with stocks that will perform well when the Fed starts cutting taxes.

Many experts believe that with back-to-back negative GDP figures, the Fed is unlikely to make an unusual rate hike. According to Heart, at some point the Fed will start printing money again and risky asset classes like crypto will rally.

Heart believes volatility is a price to pay in crypto assets, which he believes are the world's best performing asset. Citing Amazon's price crash in 2000 as an example, he said that every asset with high potential has volatility as a side effect.

SEC thinks there is no need to approach Crypto markets differently

SEC Chairman Gary Gensler stated yesterday that he is fighting to register and regulate crypto platforms and ensure that crypto assets are registered as securities. Gensler shared his views on the matter via a Twitter message.

While Gensler said in his post that there is a certain protection when trading on the stock market, he said that the US capital markets have become the gold standard over the years and have earned the trust of investors.

Reminding that crypto money platforms work similarly to stock markets, Gensler said that these areas are where buyers and sellers meet, and the only difference is that trade can operate without an intermediary. The SEC Chair feels that the millions of people who trade should need regulatory protection on these platforms.