The CEO of the ShapeShift cryptocurrency exchange believes that the bitcoin rate will soon begin to grow and by the summer of this year the first cryptocurrency will cost $40,000.
Erik Voorhes made the announcement in an interview with Bankless. The businessman believes that Bitcoin is ready for a “large-scale return.” The ShapeShift CEO expects a new bull cycle in the cryptocurrency market, due to which BTC will reach new records. However, in this case, Voorhees finds it difficult to name the exact timing – he believes that the bullish cycle will have to wait from six months to three years.
The main drivers of growth should be macroeconomic factors – an increase in interest rates and a tightening of monetary policy by the central banks of leading countries. Voorhees noted that cryptocurrencies do not have a very positive reputation, but this will not prevent the next bitcoin rally. According to him, “the financial industry is now in the middle of a revolution.”
Earlier, Tim Draper, a large venture capital investor, confirmed his forecast that Bitcoin will reach $250,000 already in 2023.
Source: Bits
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