September 30, 2022

Bitcoin Tapping $100,000 is Reasonable, Says OKCoin Exchange CEO

2 min read

According to Hong Fang– Chief Executive Officer of the United States cryptocurrency exchange OKCoin– bitcoin’s rate could rise past $100K. However, there are a great deal of aspects that play in the short-term, indicating the possession may not reach the turning point that soon, she included.

Bitcoin at $100K Is ‘‘ Reasonable’

Despite bitcoin’s current rate decline and unstable nature, the number of people picturing the cryptocurrency with a future price tag of $100,000 is growing daily. OKCoin’s CEO– Hong Fang– is the latest member of the club.

In a current interview for CNBC, the executive believed that BTC’s network has “no procedure risks.” As such, she is “really bullish” on the possession and believes it could even exceed the $100K rate level. This potential rise might not happen in the short-term, though, as there are numerous market elements influencing the cryptocurrency at the minute, she explained:

“Mid to long-term, I still think getting to $100,000– or even greater price– shouldn’t be an issue. The timing can be a bit evasive due to the fact that we are at the grace of market characteristics.”

Furthermore, Fang provided her 2 cents on non-fungible tokens. Similar to other NFT advocates, such as Shark Tank’s Kevin O’Leary and Visa’s Cuy Sheffield, she thinks they have a lot of capacity. Fang also compared the NFT hype in the last 12 months with the DeFi craze in 2020.

Nonetheless, she alerted that delving into the non-fungible token universe is not for everyone as it is still in its early days:

“It is really early so it is not for everybody. You got to do your homework before putting your money into it.”

Hong Fang

Hong Fang, Source: Business Insider ATH But Not$100K Earlier this week, Guido Buehler– Chief Executive Officer of the Swiss-based SEBA Bank– provided another bullish projection for bitcoin’s cost. The officer thinks institutional investments will push the property’s USD worth to as high as $75,000.

Pascal Gauthier– CEO of crypto wallet Ledger– concurred with Buehler. In his view, investors trust bitcoin “increasingly more, and it’s the people that will press the rate up.”

In turn, Nikolaos Panigirtzoglou– a strategist at JPMorgan Chase & & Co– recently believed that bitcoin’s “fair rate” sits between $35,000 and $73,000. It could reach the higher number if investors start switching from gold to BTC, he thinks.