Bitcoin (BTC) Poised For Over 270% Explosion, Messari CEO Ryan Selkis Predicts – Here’s The Timeline
Messari founder and CEO Ryan Selkis says Bitcoin (BTC) is poised for a massive rally as US banks fall like dominoes.
The head of the crypto-intelligence firm says his 307,400 Twitter followers that Bitcoin is likely to hit six figures in the next 12 months.
He cites five main reasons for the projected price of Bitcoin to $100,000, an increase of more than 270% from today’s value of $26,606.
Selkis predicts that there will be more bank failures, and the Federal Reserve will not only stop raising interest rates to reduce inflation, but also start cutting them.
He also says that more investors will find Bitcoin an attractive “money outside” and that institutions will adopt the royal crypt faster than any potential moves by the United States to limit or ban it.
“My rough prediction for the next twelve months:
1. More bank failures in the next couple of weeks.
2. Fed cuts / QE (Quantitative easing) is back!
3. BTC rises, sustained moderate inflation.
4. “Outside Money” / “Sound Money” – $100,000 / BTC.
5. Institutions are buying faster than the Feds can shut down.
Game.”
Selkis says that the banking crisis rattles investors’ confidence, and they will invest their wealth in assets such as crypto and gold.
“Fractional banking is good (credit), but requires caution and confidence to work. When confidence disappears, people logically move to full reserve banks. (Crypto and Gold)
Crypto didn’t change the accounting rules to favor government bonds, then cover up bank insolvency.
The FBI did.”
He says decentralized finance (DeFi) is the direction the world is heading, claiming to be a more reliable system than the traditional financial markets.
“Crypto is a life raft and an optimistic bet on a future of open financial services + open technology. It’s also a voice of protest and an ‘exit’ tool. You want exposure if you can’t trust your institutions. And the message of the last the week has been “don’t trust the banks or governments.”
Selkis too warns how fractional banking, when banks only have to keep a portion of the money deposited into reserves, is a risky practice that could harm crypto. The banking crisis could pose a challenge to the crypto sector since, as it stands now, traditional financial institutions are needed for customers to be able to move their hard currency on and off crypto platforms.
“The Fed and Big Banks need to better coordinate how to protect crypto from the systemic risk of the US banking system. Fractional banking is risky. Don’t invest more than you can afford to lose. It has potential, but only if it’s built safely with consumer protections in the thoughts.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/Vadim Sadovski/David Sandron
