According to Chainalysis CEO, Bitcoin Will Exceed $100,000

According to Michael Gronager, CEO of blockchain analytics firm Chainalysis, by the end of the year, "Bitcoin will exceed $100,000."

While Bitcoin has risen above the 50 thousand dollar threshold again after a break of months, the debates on how the biggest crypto money can rise have also flared up. Speaking to the US Bloomberg television on the subject, Michael Gronager, CEO of analysis firm Chainalysis, stated that his expectation from Bitcoin is more rise this year. Gronager, who started his speech with El Salvador's declaration of Bitcoin as legal money, said: " It is very important for a small country to take such a step. It will set an example. For such countries, remittance transactions and cross-border payments are of great importance. Payments are also important in El Salvador. There was already a high level of adaptation. There will be many people in the country who say 'I want my dollar' and oppose change. These people don't even know what Bitcoin is. That's why I don't see the protests in the country as very worrying."

Ethereum Has Grown Too Much

Stating that confidence in cryptocurrencies has increased even more recently, Chainalysis CEO said the following about the rise of Ethereum: "We've seen Ethereum grow a lot in the last few weeks. The network has become much more stable. People now trust Ethereum more. Then there's DeFi, the decentralized finance industry. I think that adds to the value of Ethereum." Michael Gronager, one of the co-founders of the Kraken exchange, recently stated that he thinks the price of Bitcoin will be above 100 thousand dollars before the end of this year: “We are currently seeing a trend in cryptocurrencies, especially Bitcoin and Ethereum. Huge improvements and improvements have been made in the bear season. I think yes, we are still in bull season. I can say that we will be over $100,000 by the end of the year. In the long run, I don't think the Moon is the limit. We can go beyond that. I don't see a limit.”