Bitcoin Prediction: Asset Management Firm Forecasts $100K Price Soon
Ding Chen, CEO of CSOP Asset Management, forecasts that Bitcoin might soon hit $100,000, aligning with traders who believe that a rally spurred by Donald Trump’s support could be substantial.
Trump is scheduled to speak at the Bitcoin 2024 Conference this week, with speculation about a major Bitcoin announcement, possibly a strategic reserve.
CSOP has recently launched Asia’s first inverse Bitcoin ETF in Hong Kong, allowing investors to profit from declines in Bitcoin prices . Chen highlighted that this product addresses the lack of options for shorting Bitcoin.
Chen supports the view that Bitcoin could rapidly approach $100,000, partly due to Trump’s pro-crypto stance and positive market sentiment following Trump’s vice presidential pick, JD Vance.
READ MORE:
Kraken Completes Mt. Gox Payouts Without Triggering Bitcoin Sell-OffWhile recent Bitcoin ETF launches have not significantly boosted the market, BlackRock’s iShares Bitcoin Trust has attracted substantial institutional investment, with $19 billion in inflows this year. Despite a brief outflow, interest remains strong.
Matrixport notes that a rebound in Bitcoin’s hash rate, a key indicator of future rallies, signals a promising outlook. Bitcoin miners are also expanding into AI as mining revenues decline.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
A whale borrowed 10.2 million USDT through Aave and used it to increase its holdings by 109.2 WBTC
Buffett's Berkshire Hathaway holds more U.S. debt than the Fed
Nasdaq 100 futures surge 3%
Trending news
MoreCrypto prices
More








