CoinGecko's Chief Operating Officer Bobby Ong believes the price of Bitcoin will reach $ 100.000 and above by the end of this year. The world's number one digital asset recently hit an all-time high of $ 61.711,87 and has a market cap of over $ 1 trillion. BTC's 100.000 price is inevitable in his opinion and it's only a matter of time.
Why does NGO think this is really possible
CoinGecko is one of the leading cryptographic data aggregators in the world. For more than seven years, the Kuala Lumpur-based firm has had its eyes fixed on monitoring and capitalizing the cryptocurrency markets. Millions of cryptocurrency enthusiasts and traders depend on the platform to make a fundamental decision on the markets. This puts the company in a better position to tell the future of Bitcoin and the entire crypto space.
In an interview with The Street, CoinGecko COO Bobby Ong said that growing interest from traditional institutions will most likely push the price of Bitcoin to over $ 100.000 by the end of this year.
According to Bobby, the involvement of Tesla and MicroStrategy has paved the way for most institutions, which are now showing great interest in Bitcoin and other digital assets. He believes Coinbase's long-awaited IPO will boost investor confidence in BTC and drive the cryptocurrency's growth.
Bobby also said that the appetite for press money would prompt investors to seek alternatives such as BTC and ETH in fear of the collapse of the global monetary system. According to the COO, the dominant digital asset is the reserve for crypto assets; therefore, digital assets are somewhat anchored to BTC.
So is investing in BTC and ETH the solution?
When asked which digital currencies he believes are worth paying attention to in the current market situation, Bobby advised newbies to consider ETH and BTC as a gateway to crypto. Think DeFi or decentralized finance projects have a bright future for those with in-depth knowledge of cryptocurrencies.
Bobby also thinks that non-fungible tokens, known as NFT, a trend that is taking the cryptocurrency industry by storm, has a bright future and will lead cryptocurrency to even greater success. He believes NFTs will stimulate the creative world and change identification, supply chain and game dynamics.
The COO is concerned that most enthusiasts are not thrilled with the risks of the cryptocurrency space. According to Bobby, they are blindly jumping into cryptocurrencies as a result of growing interest from institutions. He encouraged newbies to be excited about the risks involved in engaging smart contracts.
Therefore, as we also always like to remember: invest yes, but carefully. The cryptocurrency market remains very volatile and the risk of losing money with trading is always around the corner.