Amid ongoing troubles in the banking industry, data analytics firm Ryan Selkis, co-founder and CEO of Messari, Bitcoin (BTC) predicted a brand new rise in its future price.
Messari CEO Predicts $100,000 Price Target for Bitcoin (BTC) in 12 Months
Ryan said on his Twitter account that he expects the leading digital currency to reach a price of $100,000 in the next 12 months.
My rough prediction for the next twelve months:
1. More bank failures in the next couple of weeks.
2. Fed cuts / QE is back!
3. BTC climbs, sustained moderate inflation.
4. “Outside Money” / “Sound Money” -> $100k / BTC.
5. Institutions buy faster than Feds can shut down.game.
— Ryan Selkis 🥷 (@twobitidiot) March 17, 2023
One of the few vocal advocates of Bitcoin in the US today, Ryan’s rationale for the massive price target focuses on potential acquisition by institutions.
According to the crypto executive, Bitcoin can be considered solid money in an environment where the US dollar is depreciating.
Based on this, he states that institutional firms such as MicroStrategy can participate in the accumulation of cryptocurrency faster than federal regulators ban the existence.
Bitcoin’s price has been in a bearish trend since hitting an all-time high (ATH) above $69,000 in November 2021. While last year had a very harsh crypto winter so far, Bitcoin is currently showing more resilience overall.
The leading digital currency is currently trading at $26,000 and is leading a new market rally today, up 5.35% in the last 24 hours.
While Ryan’s prediction is far from the current price level, more market leaders and Bitcoin advocates are making similar predictions, making more investors interested in Bitcoin’s future performance.
*Not investment advice.
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