Bitcoin price could surge to a five-digit territory next year and even briefly touch $200,000 due to the global economic situation
Bitcoin’s price could surge to a five-digit territory next year and even briefly touch $200,000 due to the global economic situation, asserted the co-founder of Block. One and former US presidential candidate – Brock Pierce. He also believes regulations could help the cryptocurrency space but only if they are incorporated following thorough research.
But he’s not just thinking of BTC hitting a new all-time high above $69,000. He thinks the market could witness a breakout beyond the $100k barrier. With mitigating external factors pushing the digital asset even higher along the six-digit rail. Pierce believes that Bitcoin’s price could get some tailwinds from the never-ending urge to print more currencies. He looks at this factor as one of the primary drivers of Bitcoin price in the future. Even more than growth within the broader crypto market.
However, he believes other coins stealing some attention from BTC is vital for the market. Per pierce, altcoins are helping build on the Bitcoin idea. He pointed out that BTC is a digital store of value while Ethereum intends to create programmable contracts. With each project being different, Pierce believes the crypto space is like the internet of 1999.
Pierce claims the crypto space will have several winners like how Amazon, Google, and eBay secured their places on the internet. Unlike other BTC proponents, Pierce agreed that BTC is a risk asset. According to him, BTC is a store of value but not an inflation hedge like gold and real estate. However, it has an interesting return profile than the above assets. Sharing what he believes will drive BTC beyond $100,000.00 (£74,195.50), Pierce said financial uncertainty in the broader financial system.
