Nexo CEO and cofounder Antoni Trenchev thinks the price of Bitcoin could reach $100,000 in the next 12 months.
Trenchev told CNBC that the granddaddy of crypto could soar to $100,000 and beyond.
The idea is that economic easing would mean more money sloshing around, making investors more comfortable with riskier assets like crypto.
As I write this, Bitcoin’s price is hovering close to $40,000 so it would need to more than double for Trenchev’s prediction to come true.
Trenchev’s recent forecast echoes one he made at the start of the year.
One of the many crazy aspects of crypto investing is that if you look hard enough, you’ll find Bitcoin price predictions that range from total collapse to a surge above $1 million.
The reason predictions vary so wildly is that this is still a relatively new and untested industry.
Even if you’re optimistic and think Bitcoin could outperform in the long run, it’s still important to listen to the naysayers as much as the crypto cheerleaders.
Bitcoin could be overtaken by a newer form of digital currency; countries around the world could introduce their own centralized GovCoins; quantum computing could undermine Bitcoin’s security and unravel the foundation of the whole industry.
The best way to handle this uncertainty and risk is to only invest money you can afford to lose.
If you’re comfortable with the risk, have cash to spare, and believe in its long-term potential, you might decide to put a small percentage of your overall portfolio into Bitcoin and crypto.
To help you get started, our independent experts have sifted through the options to bring you some of our best cryptocurrency exchanges for 2022.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.