Antoni Trenchev, the founder of Nexo, the leading credit company in the digital finance industry, shares his price prediction for Bitcoin (BTC). Correctly predicting the previous drop, Trenchev believes Bitcoin could reach $100,000 next year.
How does the Bitcoin price look according to the famous CEO?
Antoni Trenchev, founder of crypto lending firm Nexo, predicts in a recent interview that Bitcoin could hit over $100,000 within a year. On the other hand, Trenchev also warns that Bitcoin (BTC) could fall in line with normal financial markets as the Fed begins to unravel its massive monetary stimulus program. Trenchev adds that a “collapse” in the stock market will almost certainly result in the Fed returning to a policy of sudden easing, which will provide further impetus for Bitcoin and other cryptocurrencies.
According to Trenchev’s forecast, the Bitcoin price will more than double in a year. As Cryptokoin.com previously reported, Trenchev predicted in January 2020 that Bitcoin would reach $50,000 by the end of the year. Although the Nexo founder’s prediction did not come true in 2020, Bitcoin managed to cross the $50,000 threshold in February 2021.
According to the analyst, what is the reason for institutional adoption in Bitcoin?
Trenchev last February, when discussing the Fed’s planned rate hikes, first mentioned that cheap money is here to stay. According to the Nexo founder, the cheap money is here to stay and it could very well be for crypto assets like Bitcoin. On the other hand, this is not the first time Trenchev has predicted that Bitcoin will reach $100,000. The founder of the famous company earlier this year stated that he was a “Bull” for crypto money, while calling BTC as gold 2.0.
According to the founder of crypto lending firm, institutional adoption of Bitcoin continues to increase as companies fill their treasury with Bitcoin. On the other hand, many crypto advocates argue that the market has matured and there is sufficient liquidity in the market as major Wall Street establishments flock to digital assets. The most striking of these news is Goldman Sachs’ announcement that it will start offering its customers the first investment vehicles for Bitcoin and altcoins in the second quarter of 2022.
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