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

Original author: Dimitar Dzhondzhorov

Go to source

According to Hong Fang – Chief Executive Officer of the US cryptocurrency exchange OKCoin – bitcoin’s price could surge past $100K. However, there are a lot of elements that play in the short-term, meaning the asset might not reach the milestone that soon, she added.

Bitcoin at $100K Is ‘Reasonable’

Despite bitcoin’s recent price decline and volatile nature, the number of individuals envisioning 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 recent interview for CNBC, the executive opined that BTC’s network has “no protocol risks.” As such, she is “very bullish” on the asset and thinks it could even surpass the $100K price level. This potential surge might not happen in the short-term, though, as there are several market factors influencing the cryptocurrency at the moment, she explained:

“Mid to long-term, I still think getting to $100,000 – or even higher price – shouldn’t be a problem. The timing can be a bit elusive because we are at the mercy of market dynamics.”

Additionally, Fang gave her two cents on non-fungible tokens. Similar to other NFT proponents, such as Shark Tank’s Kevin O’Leary and Visa’s Cuy Sheffield, she believes they have a lot of potential. Fang also compared the NFT hype in the last 12 months with the DeFi craze in 2020.

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

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

ATH But Not $100K

Earlier this week, Guido Buehler – Chief Executive Officer of the Swiss-based SEBA Bank – presented another bullish forecast for bitcoin’s price. The exec believes institutional investments will push the asset’s USD value to as high as $75,000.

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

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