derivatives investor, cryptocurrency analyst and conference organizer Tone Vays, bitcoin He suggested that the price will reach $100,000 in 2023 and that there will be a “bull market” in stocks and crypto as European currencies flee to the US.
“I Will Be Surprised If Bitcoin Price Doesn’t Approach $100,000 Sometime Next Year”
Vays listed his thoughts on the subject as follows:
“I would be surprised if the price of Bitcoin doesn’t approach $100,000 sometime next year. I think there will be a lot of speculative money flowing into the stock market and crypto markets.”
Vays claimed that the “flow of capital from Europe to the US” could trigger the price spike of BTC. He also suggested that fear of missed opportunity (FOMO) might motivate investors to buy more BTC:
“They missed their chance to catch the 2018 low. This is another chance… If investors get the opportunity to buy Bitcoin below $10,000 again, they will jump right in.”
Vays spoke with Kitco News Editor-in-Chief and Lead Host Michelle Makori.
“The Only Censorship-Resistant Cryptocurrency BTC”
Vays stressed that BTC cannot be confiscated and that the cryptocurrency is “censorship resistant” because it is decentralized. He said that these unique features of Bitcoin will lead to greater adoption:
“I see Bitcoin as the only decentralized cryptocurrency. It’s censorship-proof and you can send it to anyone, anywhere.”
To argue that demand for Bitcoin will increase, Vays pointed to recent examples of states freezing or confiscating bank accounts for political reasons:
“We are witnessing countries, central banks and ordinary banks freezing their bank accounts.
Just this year, we have witnessed the West and the United States seizing people’s wealth because they have Russian passports, before that, Trudeau and Canada froze people’s bank accounts because of a $20 donation for a political contribution. You cannot do that with BTC.”
Although Vays predicted a price of $100,000 for Bitcoin, he said that this cryptocurrency could fall to a “support level” of $14,000 before reversing and reaching new highs. However, he warned that Bitcoin’s unpredictability makes it difficult to pinpoint a firm price support.
*Not investment advice.
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