- Crypto entrepreneur and investor Ken Mack says bitcoin could hit $10,000 in a worst-case scenario.
- In an interview, he discussed the factors that could drive crypto prices lower in the short-term.
- He also shared his updated strategy for altcoins, including the ones he’s staking to earn yields.
Ken Mack is a seasoned entrepreneur who has weaved his way in and out of businesses by buying and selling them.
In 2017, he took his skills to the crypto sector, where he served as an advisor at Node Kapital, a venture fund focused on early blockchain projects. He also built a personal seven-figure portfolio invested in altcoins.
Back in October, he briefed Insider on his fourth-quarter bull run strategy and how he planned to exit each position once altcoins were at peak prices. This was based on his belief that cryptocurrencies could lose up to 90% of their value after a bull run.
It turned out that four of the five altcoins he planned on exiting after their bull runs peaked in the weeks that followed.
Now, near year-end, Mack says his strategy has changed due to shaky market conditions, and he’s already exiting most of his positions. He’s moving his money to altcoins that he believes are steadier and can be staked for high APYs during the
. This is another way he grows his portfolio.
In his latest interview with Insider, he explained his updated strategy, how he’s trading altcoins, why he thinks bitcoin at $10,000 is a scenario to consider, and the market conditions that could drive crypto
in the short-term.