Billionaire Brock Pierce is saying that exterior elements will largely dictate the motion of Bitcoin (BTC) in 2022.
In a brand new interview on Fox Business, the Bitcoin Foundation chairman shares what he thinks may affect the price of the flagship cryptocurrency in the approaching 12 months.
“I believe extra on exterior tractors than it does even the Bitcoin market Itself.
I imply, we’re printing immediately a large quantity of currencies in the world; what are we going to see in phrases of precise inflation?
These are the types of issues.”
He says that the unstable nature of Bitcoin gives potential large returns for traders and serves as an necessary catalyst for driving up the price of the digital asset.
“Remember that is an alternate asset and It’s actually one which isn’t a hedge per se as gold or actual property possibly or extra so as a result of it has extra threat and higher volatility, but additionally a way more fascinating return profile.
Depending upon monetary uncertainty in the broader world monetary system, that would be the main driver.”
As to how a lot he expects Bitcoin to surge in 2022, Pierce says that it’s extremely possible that BTC may breach the six-digit degree and even hit $200,000, or over 400% of the highest crypto’s present price of $47,234.68.
“I’d not be shocked if we noticed a Bitcoin price subsequent 12 months over $100,000.
It’s even conceivable that it might probably break $200,000 for a second and possibly fall again once more.”
Disclaimer: Opinions expressed at The Daily Hodl usually are not funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal threat, and any loses you could incur are your duty. The Daily Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Daily Hodl an funding advisor. Please observe that The Daily Hodl participates in affiliate internet marketing.
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