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NewsBTC 2021-08-12 17:00:07

Bitcoin Will Break Above $100,000 In Six Months, CEO Omar Chen

Bitcoin price predictions currently are being fueled by the present price movements in the asset. Prominent figures in the market continue to come out with optimistic price predictions for the asset. $100,000 so far seems to remain a favorite of the majority, with so many believing that the digital asset is set to break that price by year-end. Among the people who believe this prediction is’s CEO, Omar Chen. Talking to Cryptogeek, Chen talked about the bitcoin market. The price movements of the digital asset were a major focus for the CEO as he explained that he believed that bitcoin had already seen the bottom for this year, which he placed at $30,000. According to Chen, while the digital asset could have fallen lower below $30,000, “most of the risk is priced in.” Related Reading | Bitcoin Accumulation Patterns Shows Rally Might Only Be In Its Early Stages For Chen, the fact that bitcoin is a deflationary asset and the scarcity of the asset remains the most attractive monetary attribute of the asset. The 21 million supply cap of bitcoin has always worked in the favor of the asset. As supply runs low, the demand for the asset is set to exceed the available supply, which would, in turn, lead to a surge in the price of BTC. Growing Interest In The Bitcoin Market Interest in the cryptocurrency market as a whole has continued to grow these past years. Despite the long stretch that bitcoin spent in a bear market after ...

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