OKCoin CEO: BTC is still capable of reaching $100k

Hong Fang, CEO of the OKCoin crypto exchange, believes that despite the current market dynamics, the price of the main crypto coin can rise to $100,000. In her opinion, this is possible provided that the key principles of the network do not change.

“I still believe $100,000 per BTC could be reasonable. It is difficult to say exactly when this will happen, as we are at the mercy of market dynamics. But in the long term, bitcoin should not face problems reaching this level,” said the CEO of OKCoin.

At the same time, other cryptocurrencies may compete with bitcoin in the future. In addition, leveraged products and derivatives can increase BTC volatility.

The top manager of Fidelity Investments, Yurrien Timmer, agrees with the opinion of Hong Fan, and is confident that the first digital currency will be traded at $100,000 next year. He is convinced that BTC is able to overtake gold in terms of market capitalization.

Edelman Financial Engines founder Rick Edelman also believes that bitcoin has a bright future.

“We are already almost a quarter of the population: 24% of Americans own bitcoins. Getting to one third will not be so difficult. Bitcoin is becoming more and more popular. People hear about it everywhere — it’s not going anywhere,” Edelman said in a recent interview.

He pointed out that the authorities of different countries, hedge funds, private companies and pension funds are already investing in BTC. Also, the crypto enthusiast is sure that by 2023 regulators will approve spot ETFs.

In turn, SEC Commissioner Esther Pierce believes that the regulator has no reason to refuse to register bitcoin-ETF.

“Most of the concerns that the SEC faced have already outlived their usefulness. The industry has proven that it is quite mature and able to develop through innovation,” she said.

Do you think bitcoin spot ETFs will get government approval in the near future?