Bitcoin Price Could Double In The Next Months | CryptoGazette
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There are various optimistic predicitons about the price of Bitcoin these days, amidst the multiple market corrections. Check out the latest one below.
The co-founder and managing partner of crypto lender Nexo, Antoni Trenchev, is bullish on Bitcoin (BTC).
New bullish BTC prediction is out
Trenchev says in a Bloomberg interview that BTC could surge by about 130% from the current levels in the next few months.
“[Bitcoin is] going to a $100,000. We will see that level for sure. Whether it happens by the end of June, my optimistic scenario, or towards the end of the year. Ultimately, it doesn’t matter.”
He continued and said the following:
“But it’s fascinating how resilient this asset is, and the more bearish the consensus gets, and this appears to be happening right now, the more bullish I personally get.”
It’s also important to note that he was asked whether the plans by the Federal Reserve Bank to tighten monetary policy are “bad for Bitcoin,” and Trenchev said there is no political will to raise interest rates extensively.
According to the Nexo co-founder, the Federal Reserve Bank will loosen monetary policy if the S&P 500 US stock index crashes.
“I think as soon as the S&P and the credit markets correct, something to the tune of 20% or even 30%, we will be back to easing in no time. I don’t see the political will for anyone to power through what is necessary – to hike the rates consistently and for extended periods. I just don’t see that on the horizon.”
He also said:
“You know, the S&P is down here today 2.5% and everybody is calling the end of the world. So, I don’t see that as a too-likely scenario and I think cheap money is here to stay.”
Stay tuned for more news and make sure to keep your eyes on the market.
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