Thursday, January 27, 2022

Bitcoin’s Price Will Hit $100K by Mid-Year, Nexo Founder Predicts – Markets and Prices Bitcoin News

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The co-founder and managing associate of Nexo, a serious cryptocurrency lender, has predicted that the value of bitcoin will likely be $100K by mid-2022. He highlighted “two simple reasons” why he’s bullish in regards to the worth of bitcoin this 12 months.

Bitcoin Expected to Reach $100K by Mid-Year

Antoni Trenchev, the co-founder and managing associate of Nexo, a serious cryptocurrency lender, has shared his bitcoin worth prediction in an interview with CNBC Monday. He mentioned:

I feel [bitcoin’s] going to succeed in $100,000 this 12 months, in all probability 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 government defined that there are “two simple reasons” why he expects to see large features within the worth 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 motive is that Trenchev expects “cheap money” is right here to remain, which might enhance the costs of cryptocurrencies. The Federal Reserve is predicted to elevate rates of interest a number of instances this 12 months. Wharton finance professor Jeremy Siegel not too long ago predicted that “The Fed is going to have to hike many more times than what the market expects.”

The Nexo government added:

I fairly frankly suppose that as quickly as we see a fee 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 via any form of correction within the conventional monetary markets.

Recently, the president of El Salvador, Nayib Bukele, additionally predicted that the value of bitcoin will attain $100,000 this 12 months.

Meanwhile, the CEO of Microstrategy, Michael Saylor, foresees bitcoin’s worth reaching $6 million. However, some persons are extra skeptical in regards to the worth of the cryptocurrency, together with Bridgewater Associates founder Ray Dalio.

How excessive do you suppose the value of bitcoin will attain this 12 months? Let us know within the feedback part beneath.

Kevin Helms

A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source programs, community results and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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