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.”