2 November 2024
BTC Price To Skyrocket By the End of This Year: Michael Gronager
Michael Gronager, the CEO of blockchain forensics firm Chainalysis, believes that Bitcoin's price will skyrocket to $100,000 by the end of 2021.
During an interview with Bloomberg, Michael Gronager asserted that bitcoin and the cryptocurrency market, in general, are still in a bull run state. Previously, Jesse Powell indicated that the market was still in the early bull cycle. Further, emphasizing Bitcoin’s price prediction, Powell stated, “we could see $100,000 plus per coin late this year, early next year."
The CEO agrees with Powell’s BTC price prediction, as Gronager affirmed, “I think we are still in the bull market. I think we can see above $100k by the end of the year, so I would be bullish on that as well. Long term, I would probably usually say the Moon is the limit but we can go beyond that as well.”
Besides, Gronager has joined the list of people like Kevin Wadsworth of Northstar & Badcharts, Jordan Belfort, also known as the Wolf of Wall Street, Blockstream CEO Adam Back, Florian Grummes, Bitcoin critic and economist Peter Schiff who have predicted similar bitcoin’s price going above $100,000 of $1 million.
Gronager also commented on Ethereum’s price and stated some factors like the continuous growth of DeFi driving up the value of the second-largest crypto.
The CEO further discussed El Salvador’s Bitcoin adoption and noted that the citizens were resistant to bitcoin adoption because they had little or no understanding of the asset.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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