Chainalysis CEO Predicts Bitcoin Will Hit $100,000 By The End Of 2021

The Chainalysis CEO predicts Bitcoin will hit $100,000 by the end of this year and it will become even harder to predict a similar price tag as we are reading more today in our latest Bitcoin news.

The Chainalysis CEO is optimistic that the price will rise above $100,000 before the year ends as in a Bloomberg interview, Michael Gronager who also founded Kraken, asserted that BTC and the rest of the market are in a bull state. Kraken CEO Jesse Powell even noted that the market was in the bull cycle and he said:

“We could see $100,000 plus per coin late this year, early next year.”

In the meantime, the Chainalysis CEO seemed to agree with Powel’s prediction for bitcoin when asked if he thinks the BTC value could skyrocket to over $100K in 2021. According to Gronager:

“I think we are still in the bull market. I think we can see above a $100k by the end of the year, so I would be bullish on that as well. Long term, I would probably usually say the Moon is the limit but we can go beyond that as well.”

The Chainalysis CEO predicts that Bitcoin will skyrocket and joined the list of people that predicted bitcoin’s price going to the $100K range. Others include Jordan Belfort, Blockstream CEO Adam Back, Kevin Wadsworth, and Florian Grummes. Even Peter Schitt stated that the BTC price could reach $100,000 or $1 million. Gronager commented on the price of ETH stating that there were other factors driving up the value of the second-biggest crypto and according to the chief, one of the main factors was the continuous growth of DeFi which contributed to ETH’s upward price movement.

The Chainalysis CEO discussed El Salvador’s BTC adoption but the BTC law proposed by President Nayib Bukele saw the majority vote in favor of making BTC a legal tender in teh country but there has been some resistance. With the law set to come into effect soon, a survey showed that close to 70 percent of El Salvadorans are not really happy about the BTC law. In the meantime, Gronager noted that the citizens were resistant to BTC adoption because they had almost no understanding of the asset but as stated by the Chainalysis CEO, people preferred to use the money that they know.

The CEO continued that if they download the government’s Chivo wallet, they will realize how simple it is to use BTC. President Bukele already set up the needed infrastructure before teh formalization of the BTC law.

Source: https://www.dcforecasts.com/bitcoin-news/chainalysis-ceo-predicts-bitcoin-will-hit-100000-by-the-end-of-2021/