The Chief Investment Officer (CIO) of Bitwise, Matt Hougan, Bullish leans on Bitcoin (BTC) in the midst of 20% profit of the Crypto King in the past month.
In an appearance on the David Lin YouTube channel, Hougan out Various fundamental catalysts could increase Bitcoin’s price in months by more than 95%.
“Our prediction is that Bitcoin will numb more than $ 200,000 by the end of the year.
According to the Bitwise CIO, the prevailing macro -economic environment Bitcoin has kept stronger again.
“You may wonder, why are prices not higher? The reason is that we have had a number of economic uncertainty that not only caused Bitcoin, but all risky assets have fallen. Shares have fallen considerably. So the market has baptized, but I think that over time, indeed above $ 200,000 for the year.”
About factors that increase the chance that Bitcoin will reach the price target of $ 200,000, says Hougan,
“The price of Bitcoin is determined by supply and demand, and we all know the supply, good. There will only be 21 million, we only make 165,000 new a year. So you have to view the demand.
The three things to watch: are [exchange-traded funds] ETFs who get inflow? Will companies such as micro strategy and metaplanet buy Bitcoin? And buy governments Bitcoin? If those three things happen, I think the purpose of $ 200,000 is a lock. “
Bitcoin acts at $ 102,695 at the time of writing.
https://www.youtube.com/watch?v=LHPFU6ixbe0
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