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Bitcoin (BTC) price could hit $100,000 within a year: Crypto CEO


Many reasons that crypto-industry players are optimistic about bitcoin can be attributed to rising inflation or increased investor participation. Uncertain regulatory environments continue to be a problem for bitcoin.

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BitcoinNexo CEO predicts that crypto lending firms could surpass $100,000 in one year.

Antoni Trenchev stated to CNBC that he believes the largest cryptocurrency in the world can rise above $100,000 within 12 months.

According to him, he is “worried about bitcoin’s future prospects in the short term,” suggesting that it could fall alongside traditional financial markets once the Federal Reserve begins to unwind its huge monetary stimulus program.

He said that this could “give more impetus for crypto” as a stock market “crash would most likely lead to the U.S. central banking going “back to ease in no time.”

Trenchev’s prediction is right, meaning bitcoin’s value would more than double in 2018.

Trenchev in January 2020 predicted the bitcoin price. top $50,000 by the end of that year. He says, “Everyone was laughing at me.”

Trenchev’s prediction for 2020 didn’t materialize. Bitcoin reached a low of $29,000 for the year. However, Bitcoin did surpass the $50,000 mark in February 2021.

The crypto-believers claim that the market has matured and that there is plenty of liquidity. Wall Street institutions Jump Trading, Jane Street and others are now flocking to digital assets.

Do Kwon is a cofounder of Terra Labs blockchain firm and cryptocurrency “whales”. They are now buying millions of dollars worth of bitcoin, in the hope that this could one day become the future of crypto.reserve” currency.

However, there are still some obstacles in the way of growth. Global regulatory environments remain fragmented, and crypto markets are still volatile. Particularly, bitcoin is still strongly correlated with the stock market and the Nasdaq index. Although stocks may remain volatile, bitcoin could also be volatile.

Bitcoin’s record-breaking high of $68,990.90 is only 40% away.

Some crypto executives aren’t expecting as much price appreciation in the coming year.

In an interview with CNBC on Wednesday, Paolo Ardoino (chief technology officer at Bitfinex) stated that “In this particular time in our lives we are experiencing, I would call, global uncertainty in markets, not only the crypto markets but also the stock market.”

So we have seen a decrease in crypto volume… Bitcoin volumes have fallen over the past few weeks. This is a very important metric as it informs many whales and active market participants. Participants that are not yet active may be waiting to see what happens.

Whales can be large investors and move the markets.

Ardoino warned that bitcoin might fall to $40,000 below, however, he believes the value of digital currencies will rise “well beyond” $50,000 before the end.

“I’m a bullish person on bitcoin … I see so much happening in this industry and so many countries interested in bitcoin adoption that I’m really positive,” he said.