According to Hong Fang – CEO of US crypto exchange OKCoin – the bitcoin price could rise above $100k. However, there are a lot of factors at play in the short term, meaning the asset may not hit that milestone anytime soon, she added.
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Bitcoin at $100,000 is “reasonable”
Despite bitcoin’s recent price drop and volatile nature, the number of individuals envisioning this cryptocurrency with a futures price of $100,000 is still growing on a daily basis. OKCoin CEO – Hong Fang – is the newest member of the club.
In oneRecently to CNBC, the executive pointed out that BTC’s network is “no protocol risk.” As a result, she is “very bullish” on the asset and thinks it might even surpass the $100k price point. However, this potential increase may not be near-term, as there are several market factors affecting the cryptocurrency at the moment, she explained:
Mid- to long-term, I still think hitting the $100,000 price point — or even higher — isn’t a problem. Timing can be a bit elusive because we are reliant on market dynamics.
Additionally, Fang is also active on non-fungible tokens. Similar to other NFT advocates, such as Shark Tank’s Kevin O’Leary and Visa’s Cuy Sheffield, she believes it has a lot of potential. Fang also compared the NFT hype of the past 12 months to the DeFi craze in 2020.
However, she cautions that delving into the universe of non-fungible tokens isn’t for everyone as it’s still in its early days:
It’s very early so it’s not for everyone. You have to do your homework before you put money in it.
ATH but not 100.000 USD
Earlier this week, Guido Buehler – CEO of Switzerland-based SEBA Bank – issued another bullish forecast for the bitcoin price. The CEO believes institutional investments will push the asset’s price up to $75,000.
Pascal Gauthier – CEO of crypto wallet Ledger – agreed with Buehler’s bullish view. However, his view is slightly different, he said that retail investors will be responsible for pushing prices higher.
In turn, Nikolaos Panigirtzoglou – a strategist at JPMorgan Chase & Co – recently suggested that the “fair price” of bitcoin is between $35,000 and $73,000. He believes it could reach higher numbers if investors start to switch from gold to BTC.