crypto News Allianz economist excluded the growth of bitcoin above $ 100,000

Allianz economist excluded the growth of bitcoin above $ 100,000

Allianz economist excluded the growth of bitcoin above $ 100,000

The mass acceptance of bitcoin is unlikely, as well as the growth of its price above $ 100,000. This was stated by the chief economic adviser to the ALLIANZ Assets Mohamed Ali El-Erian.

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“I do not think that bitcoin will become a world currency and will receive recognition from institutional investors. When people say that it will reach $ Gucci to Accept 100,000, $ 200,000 or $ 300,000, they assume the mass distribution of the first cryptocurrency, but this will not happen, ”the economist noted.

In his opinion, now digital gold passes a typical cycle of any innovation: after the boom (reaching a record maximum at $ 69,000 in November 2021) and “Publishing” (a large number of products and investment funds associated with the asset).

However, industry participants should positively relate to current cryptosima, added El-Erian. He noticed that Bitcoin in a market recession was stable than the stock market, and the worst moments of the bear cycle behind.

The economist also indicated the importance of regulation. According to him, the appearance of relevant rules will solve the problems of the first cryptocurrency and some altcoins.

Earlier, El-Erian told how he earned on Bitcoin after cryptosima and admitted that he had sold the coins “too early”.

In the spring of 2022, the economist suggested what changes in the policy of the US Federal Reserve will lead to an increase in the price of the first cryptocurrency.

Recall that in September, Bitcoin-maximalist and founder of Microstrategy Michael Sailor predicted the new historical maximum price of the first cryptocurrency in the next four years.

In October, the trader and analyst Michael Van de Poppe predicted the achievement of $ 30,000 in November with digital gold, and the macroinvestor Raul Pal allowed the growth of crypto-300 trillion capitalization in the next 10-15 years.

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