- The CEO of Nexo.io recently spoke with Bloomberg where he talked about his previous prediction of BTC hitting $50,000 before the end of 2020.
- Re-visiting this prediction, he says that despite all the economic turmoil going on in the world, bitcoin is still on track to reach this predicted price.
The CEO of Nexo.io, Antoni Trenchev recently spoke in an interview with Bloomberg where he talked about his previous prediction of BTC hitting $50,000 before the end of 2020. Re-visiting this prediction, he says that despite all the economic turmoil going on in the world brought on by coronavirus, bitcoin is still on track to reach this predicted price.
The chief executive officer further said that authorities have pushed more than $8 trillion into the financial markets over the past two years and indicated that this has a knock-on effect on Fiat currencies and can make inflation significantly worse than it already is.
But whereas traditional markets are seeing collapse right before our very eyes, bitcoin and cryptocurrencies seem to be doing something different. The CEO highlights that bitcoin cannot be created in the blink of an eye such as cash can be printed and adds that the leading asset is the unforgeable. He further added that as bitcoin is unforgeable, the recent halving event insured that inflation of the leading as it is directly produced. All of this and more could cause the King coin to spike in price.
When giving advice to traders, Trenchev said that investors should be more focused on the long-term future for bitcoin rather than the hour to hour movement.
Speaking on his $50,000 price prediction, he added that the leading coin will hit it very easily and given that bitcoin is well on its way to hitting $10,000 at the time of writing, who knows how accurate this will be…