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Bitcoin Tapping $100,000 is Reasonable, Says OKCoin Exchange CEO

Summary:
According to Hong Fang – Chief Executive Officer of the US cryptocurrency exchange OKCoin – bitcoin’s price could surge past 0K. However, there are a lot of elements that play in the short-term, meaning the asset might not reach the milestone that soon, she added. Bitcoin at 0K Is ‘Reasonable’ Despite bitcoin’s recent price decline and volatile nature, the number of individuals envisioning the cryptocurrency with a future price tag of 0,000 is growing daily. OKCoin’s CEO – Hong Fang – is the latest member of the club. In a recent interview for CNBC, the executive opined that BTC’s network has “no protocol risks.” As such, she is “very bullish” on the asset and thinks it could even surpass the 0K price level. This potential surge might not happen in the

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According to Hong Fang – Chief Executive Officer of the US cryptocurrency exchange OKCoin – bitcoin’s price could surge past $100K. However, there are a lot of elements that play in the short-term, meaning the asset might not reach the milestone that soon, she added.

Bitcoin at $100K Is ‘Reasonable’

Despite bitcoin’s recent price decline and volatile nature, the number of individuals envisioning the cryptocurrency with a future price tag of $100,000 is growing daily. OKCoin’s CEO – Hong Fang – is the latest member of the club.

In a recent interview for CNBC, the executive opined that BTC’s network has “no protocol risks.” As such, she is “very bullish” on the asset and thinks it could even surpass the $100K price level. This potential surge might not happen in the short-term, though, as there are several market factors influencing the cryptocurrency at the moment, she explained:

“Mid to long-term, I still think getting to $100,000 – or even higher price – shouldn’t be a problem. The timing can be a bit elusive because we are at the mercy of market dynamics.”

Additionally, Fang gave her two cents on non-fungible tokens. Similar to other NFT proponents, such as Shark Tank’s Kevin O’Leary and Visa’s Cuy Sheffield, she believes they have a lot of potential. Fang also compared the NFT hype in the last 12 months with the DeFi craze in 2020.

Nonetheless, she warned that delving into the non-fungible token universe is not for everyone as it is still in its early days:

“It is very early so it is not for everyone. You got to do your homework before putting your money into it.”

Hong Fang
Hong Fang, Source: Business Insider

ATH But Not $100K

Earlier this week, Guido Buehler – Chief Executive Officer of the Swiss-based SEBA Bank – presented another bullish forecast for bitcoin’s price. The exec believes institutional investments will push the asset’s USD value to as high as $75,000.

Pascal Gauthier – CEO of crypto wallet Ledger – agreed with Buehler. In his view, investors trust bitcoin “more and more, and it’s the people that will push the price up.”

In turn, Nikolaos Panigirtzoglou – a strategist at JPMorgan Chase & Co – recently opined that bitcoin’s “fair price” sits between $35,000 and $73,000. It could reach the higher number if investors start switching from gold to BTC, he believes.

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