BlockFi CEO Predicts BTC To be Much Higher in Value by Years End

The bitcoin halving is one of the most important events to look forward to in 2020. Investors and traders from everywhere in the space have got high expectations from this event and believe the price of bitcoin will see a massive recovery. There even some commentators who have made the prediction that it will break its previous all-time high on of $20k at the end of 2017 off the back of this event. But with the hype so big, there are some traders who think Bitcoin won’t be able to live up to the hype train, this is especially likely given the key factor of the last halving was missing the presence of the Futures market.

CEO of BlockFi, Zac Prince commented on how the crypto market is going to be unravelled over the course of 2020. Speaking with The Blockchain VC, the CEO said that he is very bullish on bitcoin and that by the end of the year, the asset will be trading at a much higher value. 

“So the CME recently launched options trading, fidelity is adding new features and functionality to their custodial platform. I think we’ll see a trend of other traditional institutional players building products for the crypto market this year.”

There are several exciting things happening to the industry too according to Prince. He says that traditional Fintech firms in the United States are adding support for crypto on their platforms is a very good thing and that crypto is being integrated with “traditional rewards constructs.”

“I think that those use cases are really exciting, really compelling from a consumer value proposition perspective and they’ll help to create this kind of constant buying pressure on the market, which will be one of the driving factors in the price performance, which I expect to be really great.”

It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!