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Nexo Co-Founder Calls for $100k BTC Price Target

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Nexo Co-Founder Calls for $100k BTC Price Target

Co-founder of Nexo, Antoni Trenchev expects BTC to head towards $100,000 as crypto adoption grows.

Trenchev was speaking to Bloomberg about his opinion on the current market. The Nexo co-founder commented on the current state of affairs. Trenchev admitted that BTC had benefited handsomely from the “loose monetary authority” when asked about the effects of the FED on the current price action. 

When asked about key drivers for BTC, Trenchev reiterated the effects of inflation as a key factor. He also stated that the current price range of BTC looks to be steady between $32,000 and $40,000. The lack of leverage traders was attributed as one of the reasons for the market recovering at this point. 

$100,000 price target

Trenchev commented on his price target of $100,000, saying “leveraged accounts have blown up, there is basically no leverage in the system, so it could build up again which obviously pumps up the price”, he also mentioned slow adoption with institutions as a driving factor for accelerated price growth for BTC. 

Countries adopting BTC 

Furthermore, Trenchev also commented on the recent news out of El Salvador. The small country has officially confirmed BTC as legal tender within the country, with Tenchev saying he was excited about it. 

The Nexo co-founder commented on the possible adoption of BTC within other countries, saying “not immediately, El Salvador is a small country, 20% of their economy comes through remittances so for them it makes sense, I see some of the latin countries following it up sooner rather than later.”

Finally when asked about other cryptos possibly over-taking BTC, Trenchev stated “not at all, BTC is the number one currency and is going to maintain that position for a while. I am super excited about ether.” 

The post Nexo Co-Founder Calls for $100k BTC Price Target appeared first on BeInCrypto.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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