The head of the crypto platform sees that Bitcoin will reach $100,000 by the beginning of next year.
Graham Jenkin, CEO of CoinList, releases a statement about Bitcoin. The most popular digital cryptocurrency reached a new record high on October 20 – $66,000 after the U.S. Bitcoin Futures ETF launch. The digital currency equalized earnings after trading at $59,052 per coin in London on Thursday. It is noteworthy that Jenkin was optimistic about the rise of Bitcoin to even greater heights.
Most people on CoinList believe that by the end of the year, the value of Bitcoin will reach $100,000. However, according to Graham, the currency will reach six digits by the beginning of the year. To illustrate the growing demand for crypto holding, CoinList recently announced $100 million in financing for Serie A, valued at $1.5 billion.
Numerous financial experts and companies predict that the currency will reach $100,000 and even exceed it. They point to the ETF launch and inflation as creating the perfect environment for Bitcoin to thrive and describe it as a hedge of inflation.
Earlier this month, Paul Tudor Jones, a billionaire investor, said that he preferred cryptocurrencies to hedge inflation over gold. There is a plan for cryptocurrency, and it is winning the race against gold. He thinks it will also be perfect hedging of inflation.
Fidelity Investments, meanwhile, estimates the currency will reach $100,000, albeit in a much longer timeframe.
Jurrien Timmer, Fidelity’s global macro director, said the forecast is based on the study’s supply and demand model. He said the last time these two models intersected was $100,000 in a few years. Nevertheless, some Bitcoin supporters are still optimistic and believe that the currency will reach $100,000 by year-end.
Conclusion
Jamie Dimon, CEO of JP Morgan Chase, recently called Ota Bitcoin useless. He believed that currency has no intrinsic value.
United Wholesale Mortgage, the second-largest mortgage lender in the U.S., has abandoned its plan to accept Bitcoin payments this month. The reason is the current combination of additional costs and regulatory uncertainty in the crypto space.
Bitcoin bull Mark Yusko has issued a warning about the retreat, calling it an over-purchase. It expects to profit from investors at Bitcoin’s current high exchange rate. Yusko believes that any potential profit is temporary and predicts that Bitcoin will reach $250,000 in five years.
Bitcoin’s October progress has delighted supporters. Optimistic forecasts have also surfaced from most experts. However, now that the currency has stopped making rapid progress, some experts believe the 6-digit figure may remain inaccessible to Bitcoin this year.
