Messari CEO Explains What Could Shoot up Bitcoin to $100K in a Year

Read full article at CryptoPotato.

Ryan Selkis – CEO of the crypto intelligence firm Messari – believes there will be more negative events in the financial world in the near future, including bank crashes.

He sees bitcoin acting as “a life raft and peaceful exit option” amid the calamity, predicting its price could soar to $100,000 in the next twelve months.

What Does the Future Hold?

In a recent tweet, Selkis shared his vision regarding the future condition of the financial world and how those possible factors could affect bitcoin.

He thinks the ongoing banking crisis is far from over, forecasting additional collapses in the following weeks. Silvergate Capital, Silicon Valley Bank, and Signature Bank are among those recently closed by regulators. SVB – one of the top 20 biggest financial institutions in the USA before its collapse – filed for Chapter 11 bankruptcy protection on March 17.

Selkis predicted that the Federal Reserve will soon stop the increase of interest rates and focus on other monetary tools, such as Quantitative Easing (QE), to battle inflation. It is yet to announce its decision on March 22 during its next FOMC meeting.

QE is another policy that central banks could enforce to reduce inflation rates. It allows them to purchase government bonds and other financial instruments, such as mortgage-backed securities (MBS), to improve stalled economic activity. Interestingly, the method is typically used when interest rates are near zero and not when they have reached record levels as the 4.75% in the USA.

Bitcoin’s Reaction

Messari’s CEO thinks all those events could propel a price surge for bitcoin, boosting it to $100,000 in the next year. He sees it as a lifeboat and a “peaceful exit option” to all the turbulence that currently shakes the financial system. According to him, reaching that milestone could become a reality once institutions join BTC’s ecosystem and are allowed to stay there:

“But the key is threading the needle so institutions can buy it and defend it alongside of us.”

Some crypto participants believe the leading digital asset has already started a bull run since its valuation climbed significantly during the banking crisis in the USA. After all, it came into existence amid another severe monetary crash – the one in 2008 – and is meant to be an alternative to the cracks of centralized financial entities.

While people’s savings stuck in institutions could be exploited due to a bank run or another adverse event, bitcoin’s decentralized nature avoids that issue (especially if the stash is stored on a cold wallet).

The post Messari CEO Explains What Could Shoot up Bitcoin to $100K in a Year appeared first on CryptoPotato.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency

Related articles

This Token Dethrones Shiba Inu To Become Biggest ETH Whale Holding

Read full article at Coingape.Shiba Inu (SHIB) has been the top choice of the largest Ethereum (ETH) whales for a very long time. Meanwhile, a new entry into the biggest ETH wallets has grabbed the spotlight from the SHIB token. SLV overtakes Shiba Inu According to the whalestats, Silverway (SLV) has flipped the Shiba Inu […]

Learn More

Bitcoin and Crypto Weekly Recap – An Attack On Crypto

Read full article at CryptosRUs. This week, Bitcoin and Crypto got attacked by several sources. One from big tech giant Apple, and another from an unknown hacker. 🔥Buy & Trade Crypto w/o KYC on MEXC ($9100 Bonus) 🟦Buy Bitcoin & Crypto with IRA/401k w/ItrustCapital ($100 Bonus) 💹Enhance Your Crypto and Stock Trading with […]

Learn More

So-Called ‘Pharma Bro’ Martin Shkreli Turns ‘Crypto Bro’ — ‘I Started Using Uniswap in Prison’

Read full article at Bitcoin News.Following his release from prison, the former hedge fund manager and convicted felon, Martin Shkreli, discussed cryptocurrencies and using the decentralized exchange (dex) platform Uniswap from a federal penitentiary. The so-called ‘Pharma Bro’ further explained that eventually, a crypto entity could dethrone some of the largest banking giants. Martin Shkreli […]

Learn More