{"id":377562,"date":"2021-12-07T14:32:47","date_gmt":"2021-12-07T11:32:47","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitwise-cio-not-so-sure-about-bitcoin-hitting-100k-in-2021\/"},"modified":"2021-12-07T14:32:47","modified_gmt":"2021-12-07T11:32:47","slug":"bitwise-cio-not-so-sure-about-bitcoin-hitting-100k-in-2021","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitwise-cio-not-so-sure-about-bitcoin-hitting-100k-in-2021\/","title":{"rendered":"# Bitwise CIO \u2018not so sure\u2019 about Bitcoin hitting $100K in 2021"},"content":{"rendered":"

“# Bitwise CIO \u2018not so sure\u2019 about Bitcoin hitting $100K in 2021 <\/strong>”<\/p>\n

As 2022 draws closer, some cryptocurrency investment experts are now doubtful on whether Bitcoin (BTC) has enough time to hit $100,000 in 2021.<\/p>\n

Following a major flash crash in the cryptocurrency market, Bitcoin is unlikely to break new all-time highs in the next three weeks and go all the way up to $100,000, according to Bitwise\u2019s chief investment officer Matt Hougan.<\/p>\n

\u201c$100,000 by the end of the year is a difficult prediction to make […] I think $100,000 could be in target in 2022 but this year, I\u2019m not so sure,\u201d Hougan said<\/a> in a Dec. 6 interview.<\/p>\n

He noted that a potential cryptocurrency rally in 2022 will be largely thanks to growing institutional support. \u201cI think as we look into 2022, we still have these fundamental drivers, the institutions we speak to everyday at Bitwise,\u201d Hougan said, adding that many institutions are still moving into the market for the first time.<\/p>\n

The CIO also predicted that 2022 will see an \u201cexplosion of activity built on Ethereum\u201d and layer-one solutions, or those aiming to improve the base protocol itself to scale the overall system rather than creating a different protocol.<\/p>\n

\u201cInvestors are going to be looking at Ethereum, Solana, or Polygon. Investors are starting to realize there\u2019s more to crypto than just Bitcoin. If there\u2019s one bigger story for next year, it\u2019s going to be everything else: crypto as DeFi, NFTs, Web3, or metaverse,\u201d Hougan predicted.<\/p>\n

While Hougan noted the growing potential of altcoins \u2014 or coins other than Bitcoin \u2014 some prominent figures in the crypto community are still sticking with BTC.<\/p>\n

Bobby Lee, founder and CEO of crypto hardware wallet Ballet, argued<\/a> Dec. 6 that Bitcoin is \u201cmore valuable\u201d than altcoins because Bitcoin is not backed by \u201cany sort of project, or a promise that can fail.\u201d<\/p>\n

The crypto community has been watching the Bitcoin price closely this year with notable figures in the industry predicting BTC to hit $100,000 by the end of 2021, including Standard Chartered\u2019s cryptocurrency research unit, stock-to-flow model creator PlanB, Morgan Creek Digital Assets co-founder Anthony Pompliano, SkyBridge Capital CEO Anthony Scaramucci and others.<\/p>\n

Related: <\/em><\/strong>Bitcoin to hit $250K in January 2022 but \u2018invalidate\u2019 S2FX BTC price model \u2014 New prediction<\/em><\/strong><\/p>\n

Others in the crypto community have taken a more skeptical view.<\/p>\n

\n

The year is 2050: <\/p>\n

\u201cOne more shakeout for #Bitcoin<\/a>\u00a0 and then it\u2019s moon time! 100k EOY\u201d <\/p>\n

Ok Grandma let\u2019s get you to bed. pic.twitter.com\/F9RoBF8qdo<\/a><\/p>\n

\u2014 Lunch Money (@LunchMoneyMitch) November 10, 2021<\/a><\/p><\/blockquote>\n