January 5, 2022
Bitcoin has been a winner in the pandemic era, rising more than 80% in 2021 despite being far off record highs hit earlier that year.
Experts believe that Bitcoin prices can surge even more. “I think [bitcoin’s] going to reach $100,000 this year, probably by … the middle of it,” Trenchev, co-founder and managing partner at Nexo, told CNBC’s “Street Signs Asia”.
Nexo claims to be the world’s largest lending institution and reportedly has issued more than $6 billion in credit and manages assets for more than 2.5 million users globally.
Trenchev further added that there are 2 reasons for the surge in prices of Bitcoin. One reason is that institutions are “building out their treasuries” and filling it with the cryptocurrency and another reason is his prediction that “cheap money” is here to stay, which will be a boon for cryptocurrencies.
Well, not every expert believes this though. Carol Alexander, professor of finance at Sussex University, said she sees bitcoin tanking as low as $10,000 in 2022, virtually wiping out all of its gains in the past year and a half.