Bitcoin could be worth $100,000 by early 2023

The boss of crypto lending firm Nexo has said that bitcoin (BTC) may be worth $100,000 within 12 months.

Antoni Trenchev spoke with CNBC outlining a possible future for the currency in which it exponentially increases its value, spurring another growth rally for the crypto sector.

Trenchev admitted that part of his projection was based on rumors that the Federal Reserve may attempt to phase out a monetary stimulus program.

This would give BTC and cryptocurrencies in general more impetus for growth as people seek to avoid a recession caused by the Federal Reserve and see their currency further devalue.

Should Trenchev’s forecast turn out to be true, BTC stands to potentially double in value in the next 12 months. The currency has been see-sawing of late, with its most recent bullish run coming to a halt.

Even though Trenchev admitted that his comments have stirred some skepticism and even mockery, he is confident that the signs for a recovering BTC are already there. Even big Wall Street names such as Jump Trading and Jane Street are currently exploring digital assets.

Meanwhile, BTC is trading at around $40,000 which is 40% lower than its all-time high of $68,990.90. Others are confident that uncertain markets could spur growth in the crypto sector once again.

Bitfinex CTO Paolo Ardoino backed his colleague in a separate interview with CNBC and said that global uncertainty is benefiting crypto markets with more consumers turning to these assets in the first place.

If you want to not worry about recession and instead have a bit of fun, we strongly recommend trying out the available gaming sites at Bitcasino, 1xBit or FortuneJack.

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Written by Alex

Reporter

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

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