Bitcoin at $40,000: Eric Voorhees made a forecast on the timing – Cryptonium News

Bitcoin at $40,000: Eric Voorhees made a forecast on the timing

The CEO of cryptocurrency exchange ShapeShift believes that bitcoin will rise so quickly that the first cryptocurrency will be worth $40, 000 by this summer.

Erik Voorhes made this statement in an interview with Bankless. The businessman believes Bitcoin is poised for a “massive comeback.” The ShapeShift CEO expects another bull cycle in the virtual currency market to push BTC to all-time highs. However, Voorhees struggles to give an exact timeframe for this to happen. He believes a bull cycle would have to wait six months to three years.

The main drivers of growth should be macroeconomic factors, such as higher interest rates and tighter monetary policy by central banks in major economies. Voorhees noted that while the virtual currency has a less than stellar reputation, that will not prevent the next bitcoin rally. According to him, “the financial sector is currently in the midst of a revolution.”

Earlier, leading venture capital investor Tim Draper reaffirmed his prediction that bitcoin could reach $250,000 as early as 2023. All results not available for download. Repeated retries…