Bitcoin, ethereum and many altcoins have moved erratically over the last few weeks as the leading global economic policies stance puts pressure on markets—with a dogecoin break out taking traders by surprise.
The bitcoin price has bounced around $40,000 per bitcoin through April, failing to find firm ground above the closely-watched level. The ethereum price is meanwhile hovering above $3,000 per ether even as a long-awaited ethereum upgrade was again pushed back this week.
Forbes reports that, after one crypto exchange founder warned of coming “crypto carnage,” the chief executive of crypto lending company Nexo has issued a huge crypto price prediction, with a crypto analyst describing the market as “at a critical juncture.”
The bitcoin price could soar above $100,000 “within 12 months,” Nexo’s Antoni Trenchev told CNBC this week, adding a stock market “crash” would likely force the Fed “back to easing in no time.”
In January 2020, Trenchev made a bitcoin price prediction of $50,000 by the end of the year that fell short by just two months. “Everybody was laughing me out,” he added. The bitcoin price surged above its previous all-time high of $20,000 in December 2020, reaching $50,000 in February 2021.
Despite his bullish long-term bitcoin price prediction, Trenchev is “worried” the bitcoin price could fall back in the coming months, dropping along with traditional markets as the Fed tapers its unprecedented Covid-era stimulus program and begins to raise interest rates
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