"There are all kinds of people in the world, some are supportive but some are not."
CNBC's Mad Money host, Jim Cramer remains skeptical about the performance of the cryptocurrency Bitcoin (BTC) despite its price crossing the $26,000 level during the collapse of Silicon Valley Bank (SVB) and Signature Bank which has yet to subside.
Cramer believes that BTC's decentralized nature has made it difficult to regulate.
He also intends to sell BTC holdings in the near term while labeling the digital asset a 'strange beast' as large institutions and whales may manipulate the crypto market in their favour.
But Will Clemente, Co-founder of Reflexivity Research thinks otherwise as he said that BTC has enormous potential and long-term holders who are found to own 73% of the total supply of the digital asset may not sell it.
Clemente's statement is quite accurate when investors are reported to have flocked to buy a number of BTC and is the reason why the price has recently risen so high.
In fact, investors who are beginning to believe that the Federal Reserve (Fed) of the United States (US) will lower the increase in interest rates following the collapse of the two banks is also the cause of the rise in BTC prices.
Currently, BTC managed to jump by 12.74% over the last week and its price has the potential to climb higher in the long term.
