Messari CEO, Ryan Selkis, has made a bold prediction for the future price of Bitcoin (BTC) amidst concerns over the broader banking industry.
In a tweet, Selkis suggested that BTC could rise to $100,000 in the next twelve months due to more bank failures, the reintroduction of Federal Reserve cuts and quantitative easing, and sustained moderate inflation.
He also noted that institutions might begin buying BTC faster than the Federal Reserve can shut them down. The community response to Selkis’ tweet has been mixed. Some believe that the Fed will not pause or cut interest rates next week, while others point out that people have been predicting a $100k BTC for years.
However, one commenter sees promise in the fact that BTC started at $3.5k and reached $65k, and now has a chance to reach $100k from its current level of around $20k. Another commenter argues that the Fed injecting more cash into the system during a high inflationary period could be problematic.
Some have added their own predictions to the mix. One commenter believes that the Feds or bank surrogates will counterattack with massive shorts on BTC derivatives, causing the price to plummet.
However, enough HODLers (people who hold on to BTC) will pull their coins from exchanges, causing the naked shorts to blow up. Another commenter sees potential in Fidelity offering Bitcoin access to 100% of its retail customer base.
Nevertheless, the community response to Selkis’ prediction is mixed. Some are optimistic, while others are cautious. Regardless, it is clear that BTC has a significant following and that many believe it has the potential to soar in value.
Bitcoin Surges Past $26,000 & Eyes Next Major Resistance
Bitcoin (BTC) has made a sharp upward move, clearing a major resistance level earlier today, and surpassed the $26,000 mark, resulting in a shift in focus towards the next major resistance.
This latest surge in Bitcoin’s price has taken many analysts by surprise, with some predicting a bearish market in the coming months. However, the current trend suggests that Bitcoin is set to continue its upward trajectory, with investors keeping a close eye on the next technical level of $28,000.
According to the prediction from Markus Thielen, the head of research and strategy at Matrixport, Bitcoin now has the chance to climb to the next technical level.
Thielen said:
Within larger price swings, bitcoin has rallied, reacted, and retested from $4,000 point increments – $16k, $20k, and $24k – from which the current breakout is now targeting $28K.
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