Entrepreneur Predicts Bitcoin Will Hit $100,000 By Mid-2022

Entrepreneur predicts bitcoin will hit $100,000 by mid-2022. According to Antoni Trenchev, CEO of cryptocurrency lender Nexo. If the current trend continues, bitcoin might see more advances. And reach as high as $100,000 by the middle of 2022.

At 8:42 p.m. ET on Monday, according to Coin Metrics figures, the world’s largest cryptocurrency. By market capitalization was trading at $46,170.43 per coin.

Trenchev, co-founder and managing partner of Nexo. Said that bitcoin will reach $100,000 this year in an interview. With CNBC’s “Street Signs Asia” on Monday. He estimated that bitcoin would reach $100,000 by the middle of calendar year. As stated on the company’s website. It asserts that it is the world’s largest lending institution in the digital finance sector. Company officials claim that they have extended over $6 billion in loans. And manage the assets of more than 2.5 million customers around the world.

Among the most profitable assets in the pandemic era. Bitcoin (BTC) has gained more than 60% in 2021. While being far from its all-time high of more over $69,000 reached earlier in the year. As a reference, the S&P 500 gained more than 27 percent during the same period. While the Dow and the Nasdaq gained 18.73 percent and 21.39 percent. For the year, respectively.

While Trenchev seems upbeat, not everyone shares his optimism.

A number of industry professionals feel that bitcoin is on the approach of experiencing. A big drop in value in the coming months. Several financial experts, like Carol Alexander, a professor of finance at Sussex University. Anticipate that bitcoin could collapse to as low as $10,000 by 2022. Wiping away virtually all of its gains over the preceding year and a half.

Regulators’ vigilance and significant Entrepreneur price swings

Lingering governmental scrutiny of the sector, as well as extreme price volatility. Might all have a negative impact on the future of bitcoin.

Trenchev, for his part, stated that there are “two basic reasons”. Why he believes bitcoin will experience significant rises in the near future.

One is that financial institutions are “growing out their treasuries”. And filling them with Bitcoin, he said, without providing any specific examples of what he meant. Some well-known instances of firms that have purchased large amounts of bitcoin. Are MicroStrategy and Square, to name a few of examples.

Another reason is his prediction that “cheap money” would be around. For a long time, which will be beneficial to cryptocurrencies.

His remarks come despite anticipation that the Federal Reserve will raise interest rates. Multiple times this year, marking the first time since the Pandemic of 1918,. As the central bank attempts to combat inflation with higher interest rates than in the past. The Federal Reserve was one of several major central banks. That launched unprecedented monetary easing measures in 2020 to keep financial markets afloat. During the early stages of the pandemic, according to the Federal Reserve.

Trenchev admitted that he had a “contrarian” stance on the possibility of long-term easy monetary policy. But he claimed that the majority of people were “wrong”. In their anticipation of a Fed rate hike.

As soon as interest rates are raised, “I quite frankly believe that the stock. And bond markets of Entrepreneur will suffer,” he said. “Quite frankly, we haven’t seen much political will to… Force through any type of correction in the traditional financial markets. In the last several years,” he added.

Leave a Reply

7 + 15 =