Bitcoin is the most popular digital currency of all time. Many experts have different views about this coin and present their forecasts about its growth from the official Yuan Pay Group site from time to time. The experts in this field have very positive views about its growth.
The CEO of a leading firm, Nexo says that the value of Bitcoin will rise in the coming times and will reach about $100K. During an interview with CNBC, he opens up about his positive view of the coin. Also, he warns the investors to be careful of the high volatility in the short run.
Why Does He Believe This?
The performance of Bitcoin is not very good in recent times. But the CEO of this leading firm has positive views for this coin. Also, he says that he has concerns about how this digital currency is going to perform in the short run. But in the long term, this will perform very well and has chances of earning high profits.
Trenchev, who is the CEO of this leading firm, shares that the rates of Crypto can fall in the market. But in this case, it can be helpful for the market of digital currencies. He says that the reason behind this is that a crash may occur and it may lead to changes in the economic policies in the US. If the changes take place in the policies, it will mean that more money will be available and the investors can invest high amounts without worrying much for risks.
The forecast of $100K will need more time because we cannot see it rising higher and it is $40K at present. Also, the economic and social situations in the area are very different. And the market of Crypto is very volatile so if the correct condition occurs, Bitcoin may reach heights.
But, the prediction was made at the beginning of this year, which seems like it will take time to reach the same. In 2020, he made a similar forecast and it turned true at the end of 2021.
Is The Forecast Real?
When you look closer, you will discover that there are many forecasts for investing in Cryptocurrency. These forecasts are of various types, ranging from complete loss to very high values like $100K.
The forecasts are different because there are mixed reactions to this market. Some investors are of optimistic views while some others have no proper trust in this coin. Many investors are of the view that Bitcoin may fail and so they cannot trust it with high investments. But, other traders believe that it has high potential and can bring good changes to the market. It gets hard for the investors to pick up one side as there are plenty of views available on this digital currency.
If you have the aim for long-run investments, then stop worrying about how far it will reach in the coming year. But you should think about how it will perform in the coming span of 10 years. If you have a positive view of this coin, you should still listen to the caution to stay safe from loss.
There is a lot of uncertainty in the market, and there can be new and better substitutes for Bitcoin. This fact can reveal that there can arise better options than this coin and that you need to learn about the matters that affect its price.
What Should The Investors Do In This Case?
The aspect of uncertainty will always be there. As an investor, the best thing you can do is by investing the proportion that you can afford to lose at the moment. This technique will help you in earning high gains if the value of Bitcoin increases. But if it falls, you can maintain it.
Never let investments in Bitcoin become a priority over your other goals. Because your other goals are important as well and you cannot risk them for the uncertain Crypto market.
Despite all the predictions by the experts or CEO of Nexo, make sure you invest only the amount of which you can bear the losses. Investing in high amounts in Bitcoins or any other Crypto is always risky and you should not do that.