Messari head predicts bitcoin to rise above $100k by spring 2024
Ryan Selkis, head of analytics platform Messari, predicted bitcoin to rise above $100k by spring 2024
Ryan Selkis is sure that more bank failures are ahead and institutional investors are considering BTC as a "lifeline" and will invest in the first cryptocurrency faster than the regulators can prevent it
The founder and head of the analytical company Messari Ryan Selkis predicted the growth of bitcoin above $100 thousand by the spring of 2024. In his opinion, in the near future, the crisis in the traditional U.S. financial system will worsen and cryptocurrency will become a lifeline for investors.
According to his "optimistic" forecast for the next 12 months, the next bank failures and the Fed's return to rate cuts and Quantitative Easing (or QE) are ahead. Quantitative Easing involves buying bonds on the open market to stimulate the economy through almost free liquidity.
Against this backdrop, the bitcoin exchange rate will rise, Selkis believes. In a year it will exceed the mark of $100 thousand, as it will be considered by investors as the best solution in the current situation. And big market players will invest in the first cryptocurrency faster than regulators can prevent it.
"The key is to thread the needle so that companies have the ability to buy and protect it (bitcoin) along with us," Selkis said.
In late 2021, Messari released a report on what lies ahead for the cryptocurrency market in 2022. The analysts wrote that the situation in the "real" world will get worse before it gets better, and there is a "crypto winter" ahead for the market. Also, the report said that cryptocurrency companies will begin to be increasingly censored by Western technology and banking platforms amid a crackdown on cryptocurrencies by U.S. President Joe Biden's administration.
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