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Hong Fang, CEO of OKCoin cryptocurrency exchange, is confident that despite the current market dynamics, the bitcoin rate will be able to reach the $ 100,000 mark.
Hong Fang made her announcement on CNBC. According to her, BTC can quite realistically be traded at $ 100,000 if the basic principles of the network remain unchanged.
“I am still confident that the price of $ 100,000 per BTC can be reasonable. It is difficult to say exactly when this will happen, as we are at the mercy of market dynamics. But in the long term, bitcoin should not face problems in reaching this level, “- said the CEO of OKCoin.
However, Bitcoin may face competition from other cryptoassets vying for a place in the sun. Leveraged products and derivatives can also increase the volatility of the first cryptocurrency, Fan suggested.
Jurrien Timmer, top manager of Fidelity Investments, agrees with her, who is sure that bitcoin will be traded at $ 100,000 already in 2023. He is convinced that the first cryptocurrency has many advantages over gold, one of which is the limited supply of coins. As a result, Timmer is convinced that Bitcoin is able to bypass the main precious metal in terms of market capitalization.
Last year, Hong Fan decided to delist BCH and BSV, as she says traders who have recently entered the cryptocurrency market often confuse these cryptoassets with Bitcoin.