Bitcoin On Course To Hit $100K Nine Months From Now, Bitbull CEO Predicts

Christian Encila

3 years ago

3 mins read

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Even in times of war, the intrigue and enigma that have always surrounded Bitcoin – the world’s most sought-after digital asset – still hog the headlines.

In cases like these, Russia’s protracted invasion of Ukraine has put the entire cryptocurrency market to the test multiple times over.

Despite a decline in the price of Bitcoin since November, the digital asset is still on course to hit the vaunted $100,000 per coin mark, according to the CEO of a cryptocurrency and blockchain hedge fund management firm.

$100,000 Still A Possibility For Bitcoin

Joe DiPasquale shared his viewpoints about Bitcoin’s role in the Russia-Ukraine war and his bullish forecast for the cryptocurrency markets in the coming months.

According to the Bitbull CEO, despite the gloomy mood that has dominated the crypto markets since the start of the year, Bitcoin is still on course to hit $100K within the next 24 months.

DiPasquale stated that the year 2023 is “a fair bet” and that people may require some time this year to “relax and let off some steam.”

Biden Crypto EO Lifts Bitcoin

On Thursday, a robust Wall Street surge — mixed with anticipation about US President Joe Biden’s cryptocurrency executive order — aided in the recovery of digital currencies such as Bitcoin, which gained nearly 10% to around $42,000.

Speaking of “safe bets,” it appears as though DiPasquale’s positive prognosis for Bitcoin carries a lot of weight, particularly now that the US government has expressed a strong interest in crypto and its potential to reshape the financial status quo.

BTC total market cap at $741.70 billion on the daily chart | Source: TradingView.com

“The devil will be in the details,” according to Ryan Selkis, founder and CEO of Messari, a cryptocurrency research platform.

“While we’ll have to wait and see what the big regulators suggest in the months ahead, this is a positive move, and there were no red lights on the first read,” Selkis added.

Bitcoin As A Currency

Following the outbreak of the Russia-Ukraine conflict, Bitcoin displayed a mixed reaction, initially plunging alongside stocks but then making a significant recovery. Many questioned if cryptocurrency could still be called the digital equivalent of gold.

“We need to view Bitcoin as a currency, not as digital gold, but as one that is not subject to the whims of a central bank and instead has a very limited supply,” DiPasquale said.

Individuals are adopting cryptocurrencies in order to mitigate the effects of financial turmoil on both sides of the conflict.

Evading Sanctions

There are growing concerns that Russia’s elite will attempt to dodge Western sanctions through the use of cryptocurrencies.

According to analysts, Russia may shift to Bitcoin mining — an industry in which President Putin previously declared that Russia has a “competitive edge” — or to the use of non-compliant exchanges, a tactic currently exploited by Russian hackers.

As has been the case with a number of other analysts in recent weeks, DiPasquale believes bitcoin is unsuited for that purpose.

Featured image from NaijaGreen Movies-Music, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.