The CEO of blockchain forensics agency Chainalysis is optimistic that the bitcoin worth will rise above $100,000 earlier than the tip of 2021.
$100k by December 2021
In a Bloomberg interview on Thursday (September 3rd, 2021), Michael Gronager, who can be the co-founder of cryptocurrency change Kraken, asserted that bitcoin and the cryptocurrency market, basically, are nonetheless in a bull run state.
Earlier in August, Kraken CEO Jesse Powell noted that the market was still in the early bull cycle. Talking on bitcoin’s worth prediction on the time, Powell mentioned
“We could see $100,000 plus per coin late this year, early next year.”
In the meantime, the Chainalysis CEO appeared to agree with Powell’s BTC worth prediction, when asked if he believed bitcoin’s value could skyrocket to over $100K in 2021. According to Gronager:
“I believe we’re nonetheless within the bull market. I believe we will see above a $100k by the tip of the yr, so I’d be bullish on that as nicely. Long term, I would probably usually say the Moon is the limit but we can go beyond that as well.”
The Chainalysis head has joined the listing of people that have predicted bitcoin’s worth going above $100,000. Others such as Kevin Wadsworth of Northstar & Badcharts, Jordan Belfort, also known as the Wolf of Wall Street, Blockstream CEO Adam Back, Florian Grummes, have made similar predictions.
Even well-known bitcoin critic and economist Peter Schiff additionally said that the BTC worth might attain $100,000 or $1 million.
Gronager also commented on the price of ether (ETH), stating that there were some factors driving up the value of the second-largest crypto. In line with the Chainalysis chief, certainly one of such elements was the continual development of DeFi, which has contributed to ETH’s upward worth motion.
Lack of Bitcoin Awareness Causing Resistance Among El Salvadorans
The Chainalysis CEO also discussed El Salvador’s bitcoin adoption. Though the Bitcoin Legislation proposed by President Nayib Bukele noticed a supermajority vote in favor of creating BTC a authorized tender within the nation, there was some resistance.
With the law set to come into effect on September 7th, a current survey confirmed that near 70 % of El Salvadorans weren’t enthusiastic concerning the Bitcoin Legislation.
Meanwhile, Gronager noted that the citizens were resistant to bitcoin adoption because they had little or no understanding of the asset. As said by the Chainalysis head, folks most popular to make use of the {dollars} they’re conversant in.
The CEO continued, noting that if they downloaded the government’s Chivo wallet, they would realize how simple it is to use bitcoin. As beforehand reported by CryptoPotato late August, President Bukele already arrange the mandatory infrastructure forward of the formalization of the Bitcoin Legislation.
El Salvador’s Assembly also recently voted in favor of establishing a bitcoin trust worth $150 million.
