President Lamoureux: “Bitcoin will be worth $100,000 by the end of next year”

According to Yves Lamoureux, president of macroeconomic research firm Lamoureux & Co, bitcoin will hit $100,000 by the end of 2023.

Speaking to MarketWatch, Yves Lamoureux named the recent fall in the price of bitcoin and the correction of the cryptocurrency market are a common occurrence for the “crypto winter”, which is already coming to an end. Lamoureux suggested that bitcoin will soon start to skyrocket, reaching $100,000 by the end of 2023, and this price rally will last until 2025.

An important factor that could greatly affect the growth of the first cryptocurrency will be the halving of the reward for bitcoin miners, scheduled for 2024, according to President Lamoureux.

He said that he did not give a signal to invest large amounts in bitcoin, but simply recommends that you start buying it in small portions. BTC is now hovering around $30,000, 55% off the all-time high of $68,990 hit in November 2021.

However, bitcoin is beginning to emerge from the bear market, Lamoureux noted. He believes that investing in other crypto assets is now very risky due to market instability, and cited the situation with the collapse of the Terra project as an example. Previously, Lamoureux was skeptical about bitcoin, advising investors to be cautious about it.

“I am interested in bitcoin, because it is the “king of cryptocurrencies”, and this is where the money of institutional investors will flow in the first place. All cryptoassets tend to the level of bitcoin, but they fall short of it. So always choose the best. Keep it simple, stay true to bitcoin,” Lamoureux said.

The President of El Salvador, Nayib Bukele, made a similar forecast for the bitcoin rate, however, in his opinion, bitcoin could reach $100,000 a year earlier. The CEO of Ark Investment Management, Catherine Wood, is also confident in the potential of bitcoin and suggests that bitcoin will grow to $500,000 in the next five years.