Blockstream CEO Explains Why Bitcoin Price Could Hit $100,000 This Year

everyone has their pet macro-views. my guess: stock market + US election season, moral hazard kicks up, QE ramps up again, rates drop again, money printer goes into over-drive. so the interest rate overhang falls off. and BTC decorrelates somewhere along the way once defi flushed

“Everyone has a Pet Macro view and I guess the stock market and election season are just at the beginning. The implementation of QE measures will return. The dollar will fall again. Full-scale money printing will return. Therefore, the pending interest rate will be reduced.”

With the predictions Back mentioned above, he believes that what will happen next is The Long-awaited Bitcoin Exchange-Traded Fund (ETF) Approval and brought about huge amounts of money pouring into the crypto market. Before I knew it, the Bitcoin price hit $100,000.

“My optimism case for BTC/USD is that for the price to hit $100,000 within this year, US Bitcoin ETF approval (another GBTC+ upgrade) will generate a good signal. It could trigger a big market reversal next year.”

However, despite being very optimistic But at the same time, Back reminded that Traders should not be confident and use excessive leverage. Especially during times of a lot of uncertainty about the DeFi area.

source: dailyhodl