The co-founder and managing accomplice of Nexo, a serious cryptocurrency lender, has predicted that the price of bitcoin will probably be $100K by mid-2022. He highlighted “two simple reasons” why he’s bullish in regards to the price of bitcoin this 12 months.
Bitcoin Expected to Reach $100K by Mid-Year
Antoni Trenchev, the co-founder and managing accomplice of Nexo, a serious cryptocurrency lender, has shared his bitcoin price prediction in an interview with CNBC Monday. He stated:
I feel [bitcoin’s] going to achieve $100,000 this 12 months, most likely by … the center of it.
Nexo has issued greater than $6 billion in credit score and manages property for greater than 2.5 million customers globally.
The govt defined that there are “two simple reasons” why he expects to see huge positive factors within the price of bitcoin.
Firstly, he identified that establishments are more and more placing bitcoin of their company treasuries. The Nasdaq-listed firm Microstrategy, for instance, has purchased 124,391 BTC for its treasury.
Another purpose is that Trenchev expects “cheap money” is right here to remain, which might increase the costs of cryptocurrencies. The Federal Reserve is predicted to boost rates of interest a number of occasions this 12 months. Wharton finance professor Jeremy Siegel lately predicted that “The Fed is going to have to hike many more times than what the market expects.”
The Nexo govt added:
I fairly frankly assume that as quickly as we see a price hike, it’s going to be a dip into equities and the bond market — and fairly frankly, the previous few years, we haven’t seen a lot political will to … energy by means of any form of correction within the conventional monetary markets.
Recently, the president of El Salvador, Nayib Bukele, additionally predicted that the price of bitcoin will attain $100,000 this 12 months.
Meanwhile, the CEO of Microstrategy, Michael Saylor, foresees bitcoin’s price reaching $6 million. However, some persons are extra skeptical in regards to the price of the cryptocurrency, together with Bridgewater Associates founder Ray Dalio.
How excessive do you assume the price of bitcoin will attain this 12 months? Let us know within the feedback part beneath.
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