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Bitcoin proponents such as Michael Saylor and Max Kaiser believe that Bitcoin will add value in the coming years. Some BTC fans are confident that the price of the cryptocurrency will exceed $100,000 in the medium term.
However, there are analysts who rule out a bullish scenario. The camp of skeptics is represented by the economic adviser of Allianz Mohammed El-Erian. He is sure that the cryptocurrency will never reach $100,000.
In addition, this expert rejected the inclusion of BTC in the list of reserve currencies. At the same time, he believes that the crypto market will survive a difficult period and will remain approximately in the form in which it has existed over the past few years. Saves expressed this point of view in an interview with CNBC.
In his opinion, the breakthrough to almost $70,000 last fall was a direct result of the hype among investors, who staged the pumping of the asset. It ended this year, and in the spring and summer the market collapsed.
At the same time, the market has survived, since bitcoin is a technology. The worst time has already passed, and the industry is gradually recovering. However, El-Erian excludes such an option, in which BTC soars to 100,000, or even more so to 300,000.
The Allianz economist is known to have been a Hodler himself. He first bought bitcoin in 2018 for 3,000. In late 2020, El-Erian sold his cryptocurrency when BTC returned to values above 19,000.