Nexo CEO says Bitcoin Could Hit $100k…Within a Year!

 Antoni Trenchev, the CEO of Nexo, a crypto trading platform, says Bitcoin could surge above $100,000 “within 12 months.”

Trenchev made a now-famous prediction back in 2020 saying Bitcoin would top $50,000, while others said it would tumble. According to Trenchev, “everybody was laughing me out” as he made the prediction.

But, his $50k prediction ultimately came to fruition with BTC hitting $69k last year. Now, because of his “crystal ball” track record, many are paying attention to this new 12-month price target.

There have already been perhaps dozens of analysts and experts calling for BTC $100k, but Trenchev’s argument is a bit different.

See, he said he’s “worried” about BTC in the short-term, suggesting it may fall alongside traditional financial markets as the Fed begins tightening monetary policy.

But an “in the short-term” drop in Bitcoin price may offer an incredible opportunity for crypto investors to add BTC on the cheap.

While some believe BTC could already be near a bottom, a 10%-20% retraction from current levels means Bitcoin would be trading near its lows of last July, before it more than doubled to near $69,000.

Now, Trenchev says a quick drop in the stock market would likely lead to the Fed once again altering monetary policy…

Or slowing the tightening process.

Trenchev believes a stock market retraction, followed by new Fed guidance, could eventually be a key driver for BTC to reach new all-time highs of $100k, by sometime in the next 12 months.

And If he’s correct, BTC would more than double from current levels.

Read the full story, HERE

Source: https://www.cnbc.com/2022/04/14/bitcoin-btc-price-could-hit-100000-within-a-year-crypto-ceo.html