Founder and CEO of Cryptoanalytical Company Messari, Ryan Selkis, Predicted Bitcoin Growth Above $100,000 by the Spring of 2024
Ryan Selkis is confident that more bank failures are ahead, and institutional investors are considering BTC as a “lifeline” and will invest in the first cryptocurrency faster than regulators can apply efforts to prevent it, as the crisis in the traditional U.S. financial system will exacerbate.
Ryan Selkis, co-founder & CEO of popular crypto platform Messari, prior to founding it, was an entrepreneur-in-residence at ConsenSys, and on the founding teams of Digital Currency Group, where he managed the firm’s seed investing activity, and CoinDesk, where he led the company’s restructuring & annual Consensus conferences. He has been an investor & prolific writer in the crypto industry since 2013.
According to his “optimistic scenario” for the next 12 months, more bank failures are ahead, and the Fed will return to cutting interest rates and resume its quantitative easing (or QE) buying bonds on the open market to stimulate the economy through provisioning near-free liquidity.
Selkis believes, that against this background, the Bitcoin price will accelerate its growth ultimately exceeding $100,000 in a year, as it will be considered by investors as the best solution in the current low-growth/high-inflation economic situation. And major market players will invest in the first cryptocurrency faster than regulators can prevent it.
“The main thing is to thread the needle so that companies have the opportunity to buy and protect it (Bitcoin) along with us,” Selkis said.
At the end of 2021, Messari released a report on what awaits the cryptocurrency market in 2022. Analysts wrote that the situation in the “real” world will get worse before it gets better, and the market is waiting for a “crypto winter” ahead. The report also stated that crypto companies would begin to be increasingly censored by Western technology and banking platforms in the face of the policy of suppressing cryptocurrencies, which has been pursued by the administration of the White House.
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