Cardano Founder Says Bitcoin Could Hit $100,000
By Luke Flowers – Cryptocurrency Broker
Charles Hoskinson, Ethereum co-founder who left to become the creator of Cardano, says that Bitcoin could be back over $10,000 and could even reach $100,000 sometime in the future. Even a developer of another blockchain project has faith that people will buy Bitcoin and increase the market capitalisation.
In his November 22nd tweet, Hoskinson assured the cryptocurrency community that Bitcoin is anything but speculation. He also says that those selling Bitcoin and this drop in the price is owed to the fraud, doubt, and uncertainty in news media as well as market manipulation.
Hoskinson expects the crypto giant to have more gains later on due to other factors than simply price movements. He said:
“Bitcoin's price is going down? Remember everyone, after the FUD, news trading and manipulation clears out, we still have a global movement that's going to change the world” Hoskinson went on to state that the markets will see a $10K BTC price again and welcomes $100K in the future. For the price to reach this height, many users will need to buy Bitcoin and it is a lot. When looking at traditional markets however and the amount of capital that is injected, it is not completely impossible to see the price of Bitcoin reaching $100K.
As recently reported by Cointelegraph, Bitcoin as well as other cryptocurrencies, saw a significant decline in their prices. Bitcoin especially dipped below the $7000 level before pushing up higher later on.
Even after this decline, Bitcoin still dominated this week at around 66%. This suggests more users were buying Bitcoin in which it has outperformed its competitors.
Just after the drop in price, the crypto giant's future daily volumes on Bakkt set a brand-new all-time high, displaying even more interest in capitalising on this revitalised volatility. Volatility can induce more to buy and sell Bitcoin as they can capitalise on the movement but could also lose out.
Hoskinson also said back in October that if Bitcoin were to fail, so would the entire cryptocurrency industry. Does this suggest that Hoskinson is an advocate of Bitcoin at heart and does he buy and sell Bitcoin as well as his own project, Cardano.
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