Co-founder and managing partner of crypto debt platform Nexo Antoni Trenchevdespite the recent market shock Bitcoin (BTC) continues to maintain its bullish sentiment.
Speaking in an interview with Bloomberg, Trenchev said: bitcoin priceHe noted that prices may increase by about 130% from current levels in the coming months.
“Bitcoin is going to $100,000. We will definitely see this level. I’m not sure if my optimistic scenario will be at the end of June or at the end of the year. It will happen in the end, time doesn’t matter.
But it’s fascinating how resilient this entity is, and the more the consensus declines and this seems to be happening right now, the more I’m personally bullish on it.”
Bitcoin is trading at $42,894 at the time of writing.
Bitcoin and US Monetary Policy
Answering the question whether (in the US) the Federal Reserve’s plans to tighten monetary policy are “bad for Bitcoin,” Trenchev stated that there is no political will to raise interest rates comprehensively.
According to Nexo’s co-founder, the Federal Reserve will loosen monetary policy if the S&P 500 US stock index crashes.
“As soon as the S&P and credit markets experience a 20 percent or even 30 percent correction, we will soon be back to easing. I don’t see the political will for anyone to get what’s necessary, i.e. raise rates consistently and over long periods of time. I just don’t see it on the horizon.
You know, S&P is down 2.5% today and everyone is screaming that the world is coming to an end. So I don’t see this as a very likely scenario and I think cheap money is permanent.”
Trenchev concludes by saying that he is hopeful for “business-friendly” regulations in the US as the cryptocurrency industry grows deep and broadly.
“We are pleased that the editors are finally taking notice of the space and hopefully something productive, business-friendly will emerge. Especially in the USA because I don’t think any country can afford to stay out of the entire cryptocurrency universe. Especially as the metaverse is slowly but surely emerging.
I choose to be optimistic about editing. We are working proactively with some regulators to help them create these rules. ”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.