Bitcoin’s Price Will Hit $100K by Mid-Year, Nexo Founder Predicts

The co-founder and managing spouse of Nexo, a large cryptocurrency lender, has predicted that the terms of bitcoin volition beryllium $100K by mid-2022. He highlighted “two elemental reasons” wherefore helium is bullish astir the terms of bitcoin this year.

Bitcoin Expected to Reach $100K by Mid-Year

Antoni Trenchev, the co-founder and managing spouse of Nexo, a large cryptocurrency lender, has shared his bitcoin terms prediction successful an interrogation with CNBC Monday. He said:

I deliberation [bitcoin’s] going to scope $100,000 this year, astir apt by … the mediate of it.

Nexo has issued much than $6 cardinal successful recognition and manages assets for much than 2.5 cardinal users globally.

The enforcement explained that determination are “two elemental reasons” wherefore helium expects to spot large gains successful the terms of bitcoin.

Firstly, helium pointed retired that institutions are progressively putting bitcoin successful their firm treasuries. The Nasdaq-listed institution Microstrategy, for example, has bought 124,391 BTC for its treasury.

Another crushed is that Trenchev expects “cheap money” is present to stay, which would boost the prices of cryptocurrencies. The Federal Reserve is expected to raise involvement rates respective times this year. Wharton concern prof Jeremy Siegel precocious predicted that “The Fed is going to person to hike many much times than what the marketplace expects.”

The Nexo enforcement added:

I rather frankly deliberation that arsenic soon arsenic we spot a complaint hike, it’s going to beryllium a dip into equities and the enslaved marketplace — and rather frankly, the past fewer years, we haven’t seen overmuch governmental volition to … powerfulness done immoderate benignant of correction successful the accepted fiscal markets.

Recently, the president of El Salvador, Nayib Bukele, besides predicted that the terms of bitcoin volition scope $100,000 this year.

Meanwhile, the CEO of Microstrategy, Michael Saylor, foresees bitcoin’s terms reaching $6 million. However, immoderate radical are much skeptical astir the terms of the cryptocurrency, including Bridgewater Associates laminitis Ray Dalio.

How precocious bash you deliberation the terms of bitcoin volition scope this year? Let america cognize successful the comments conception below.

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