The year comes to an end and markets seem to be quite resillent. Even cryptocurrency market seems to be calm as the leading cryptocurrency has been hovering around $16K for some time now. Today we asked Jaroslaw Stankiewicz (Geco.one COO) how does he consider these circumstances.
Bitcoin price seems to remain impressively stable in recent weeks, would you agree all the events this year (so far) have led BTC to cement the price on $16K level for good?
Jaroslaw Stankiewicz (Geco.one COO):
Even though the price of Bitcoin (BTC) and other major cryptocurrencies fell due to the collapse of FTX in November, some price forecasts are optimistic, making it clear that BTC will hit $250,000 in 2023. On the CNBC show, Tim Draper, founder of the Draper Venture Network, recently announced that BTC would reach $250,000 next year, despite the collapse of FTX. However, this prediction is impossible in the eyes of other analysts as BTC does not exceed $60,000. As it will be difficult to predict, one thing is sure, Bitcoin and cryptocurrencies will stay with us permanently. Suppose broad regulations of the crypto market are implemented in 2023. In that case, Tim Dreaper's scenario is feasible because we must remember that the vast capital dormant in pension funds is just waiting for market regulation.