Bitcoin could hit $100,000 within a year, crypto firm’s CEO predicts

Bitcoin could hit $100,000 within a year, crypto firm’s CEO predicts

Could hit $100,000 within a year, the CEO of crypto lending firm Nexo has predicted. Antoni Trenchev told CNBC he thinks the world's biggest cryptocurrency can surge above $100,000 "within 12 months." He said he's "worried" about bitcoin's short-term prospects, suggesting it may fall in tandem with traditional financial markets as the Federal Reserve starts unwinding its massive monetary stimulus program. But that may, in turn, "give further impetus to crypto," he added, as a "crash" in stocks would likely mean the U.S. central bank eventually goes "back to easing in no time." If Trenchev's forecast is correct, that would mean bitcoin's price would have to more than double this year. For what it's worth, in January 2020 Trenchev predicted bitcoin's price would  by the end of that year. "Everybody was laughing me out," he says. Trenchev's 2020 prediction didn't come true. Bitcoin only managed to hit a high of just over $29,000 that year. But the cryptocurrency did eventually surpass that $50,000 in February 2021. Crypto believers say the market has matured, and that there's ample liquidity now that major Wall Street institutions like Jump Trading and Jane Street are flocking to digital assets. Meanwhile, crypto "whales" like