Ryan Selkis: Bitcoin will rise above $100,000 by spring 2024

The founder and head of the analytical company Messari, Ryan Selkis, predicted the growth of bitcoin above $100,000 by the spring of 2024. In his opinion, in the near future the crisis in the traditional US financial system will worsen, and the cryptocurrency will become a “lifeline” for investors, writes RBC Crypto.

According to his “optimistic” forecast for the next 12 months, more bank failures are ahead and the Fed will return to lowering the rate and quantitative easing (Quantitative Easing, or QE). Quantitative easing involves buying bonds on the open market to stimulate the economy through near-free liquidity.

Against this background, the bitcoin rate will grow, Selkis believes. In a year, it will exceed $100,000, as it will be considered by investors as the best solution in the current situation. And major market players will invest in the first cryptocurrency faster than regulators can prevent it.

“The main thing is to thread the needle so that companies have the opportunity to buy and protect it (Bitcoin) along with us,” Selkis said.

At the end of 2021, Messari released a report on what awaits the cryptocurrency market in 2022. Analysts wrote that the situation in the “real” world will get worse before it gets better, and the market is waiting for a “crypto winter” ahead. The report also stated that crypto companies will begin to be increasingly censored by Western technology and banking platforms in the face of the policy of suppressing cryptocurrencies, which is pursued by the administration of US President Joe Biden.

Source: CryptoNewsHerald.com

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