The CIO of Bitwise claims that $100,000 of Bitcoin is unpredictable and calls Ethereum an “asset of the year” – Bitcoin News


Although there are many people calling for the value of Bitcoin to reach six figures in 2021, as the end of the year approaches, it seems that each Bitcoin will not reach $100,000. Matt Hougan, the chief investment officer of Bitwise Asset Management, told the media on Monday that “$100,000 by the end of this year is a difficult forecast to make.”

Bitcoin price of $100,000 may not be reached in 2021 Bitwise Exec said next year “investors will pay attention to Ethereum”

For most of the year, many Bitcoin advocates, experts, celebrities, and analysts predict Bitcoin (Bitcoin) Will definitely reach the $100,000 per unit range in of them Most popular prediction It belongs to Plan B, the creator of the stock-to-flow (S2F) Bitcoin price model. Plan B Said Based on anonymous analysts, the “worst case in 2021 (based on price/chain)” will be “August>47K, September>43K, October>63K, November>98K, December>135K”.

However, the November price conference was missed, and the $135,000 forecast looks set to be missed. In the next 24 days, the value of Bitcoin must double, reaching more than 96% during this period.Plan B is not the only one predicted Bitcoin By the end of the year, the value of the U.S. dollar may reach six figures.Standard Chartered Bank Expected In early September, the value of Bitcoin may reach $100,000 by the end of the year.

Yahoo Finance writer Javier David, Said On October 21, “Suddenly, Bitcoin’s rise to $100,000 did not seem so far-fetched.” In fact, there was one Large number of analysts It is said that at some point in the future, the price of Bitcoin will touch the six-digit area or $100,000 per unit or more. In a conversation with Bloomberg’s Emily Chang, Matt Hougan, CIO of Bitwise Asset Management, explained that it is difficult for Bitcoin to reach $100,000 in 2021. Hougan further explained that Ethereum (Ethereum) Is the “annual asset” for 2021.

“I think when we look forward to 2022, we still have these basic drivers, the institutions we talk to every day at Bitwise,” Hogan explained. “By the end of the year, 100,000 US dollars is a difficult prediction-I think 100,000 US dollars may become the target in 2022, but this year, I am not sure,” Hougan commented.

Hougan predicts “explosive growth of activities built on Ethereum”

In terms of the second largest crypto asset by market capitalization, Ethereum (Ethereum), Hougan believes that 2021 is the first year of digital currency. While pointing out to Bloomberg’s Chang that Ethereum is an “asset of the year”, Hougan also emphasized that there will be “explosive growth of activities built on Ethereum” next year. But the chief information officer of Bitwise said that investors will also pay attention to other smart contract blockchain networks. Hogan added:

Investors will focus on Ethereum, Solana or Polygon. Investors are beginning to realize that encryption is not just Bitcoin. If there is a bigger story next year, it is everything else: encryption as defi, NFT, Web3 or Metaverse.

Tags in this story

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What do you think of Bitwise CIO’s cryptocurrency forecast? Please tell us your thoughts on this topic in the comments section below.

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