Co-founder and managing partner of crypto lending platform Nexo Antoni Trenchev is bullish on bitcoin (BTC) despite the recent market jolt.
Bitcoin Could Hit $100,000 Around June, Says Trenchev
Trenchev felt in a interview to Bloomberg that bitcoin could rise around 130% in the next few months from current levels.
” [Le bitcoin] cross the $100,000 mark. We will definitely see it. Whether that happens towards the end of June, my optimistic scenario, or towards the end of the year. In the end, no matter “, he said.
” But it’s fascinating to see how resilient this asset is, and the more the consensus becomes bearish, and it seems to be happening right now, the more I personally am bullish. »
Bitcoin is trading at $43,754 at the time of writing, according to data from CoinMarketCap.
Will the Fed ease its monetary policy?
Asked if the plans of the Federal Reserve (Fed), the central bank of the United States, to tighten monetary policy were “ Wrong for the world’s largest cryptocurrency, Trenchev indicated that there was no political will to raise interest rates significantly.
According to the co-founder of Nexo, the Fed will ease its monetary policy if the US stock index S&P 500 collapses.
” I think as soon as the S&P 500 and credit markets correct, by some 20% or even 30%, we will see an easing in no time. I don’t see the political will for anyone to do what is necessary, which is to raise rates consistently and for long periods of time. I just don’t see that on the horizon. »
” You know, the S&P 500 is down 2.5% today and everyone is talking about the end of the world. So I don’t see this as too likely a scenario and I think cheap money is here to stay Trenchev said.
Trenchev does not lose his optimism
Trenchev concludes his interview by saying that he is waiting for the introduction of regulations ” business friendly in the United States as the crypto industry develops deeply.
” We are happy that regulators are finally paying attention to the industry. And hopefully something productive and business-friendly will happen, especially in the United States, because I don’t think any country can afford to stay out of the whole cryptocurrency universe. Especially with the metaverse slowly but surely emerging. »
” I choose to be optimistic about regulation. We are proactively working with some of the regulators on this to help them develop these rules. »
Meanwhile, US lawmaker Emmer decried the Fed’s willingness to act as a retail bank in the potential issuance of a digital dollar. The official said he wanted clearer regulations regarding cryptocurrencies.
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