Messari CEO, Ryan Selkis, has made a bullish prediction about the future price of Bitcoin. According to Selkis, the premier digital currency could potentially reach $100,000 within the next year. The CEO’s prediction is founded on the belief that Bitcoin can be seen as sound money in the face of the devaluation of the U.S. Dollar and that institutions will acquire the cryptocurrency faster than federal regulators can shut it down.
Selkis sees Bitcoin as a life raft and peaceful exit option amid the ongoing devaluation of the U.S. Dollar. He believes that corporate firms like MicroStrategy will join in the accumulation of the cryptocurrency, thereby raising its value. He further suggests that institutions should buy and defend it alongside traders.
Bitcoin’s Resilience
Since its all-time high of above $68,000 in November 2021, Bitcoin’s price has been on a downward slope, resulting in a crypto winter. However, Bitcoin is currently experiencing more resilience, and the leading digital currency is currently trading at a price of $26,799.09, up 7.36% over the past 24 hours, leading to a new market rally today.
Ryan’s projection is far from this current price level, but other market leaders and pro-Bitcoin advocates have given similar projections.
BTC/USD recent technical analysis shows BTC bounced off the bottom line of a broadening pattern and could see higher highs if buyers succeed in pushing the coin past the $27,000 resistance.
Bitcoin’s recent bull action has left market experts skeptical about the asset’s future price action.
As the cryptocurrencies are rallying amidst the closure of two crypto-friendly banks in the USA. Most of the cryptocurrencies have followed the premier digital asset’s recent uptrend.
This prediction is founded on the belief that Bitcoin can be seen as sound money and that institutions will acquire the cryptocurrency faster than federal regulators can shut it down. While the current market conditions remain volatile, Selkis’s projection has attracted much attention, and many are watching Bitcoin’s performance with interest.
