President Lamoureux: "Bitcoin will be worth $100,000 by the end of next year"

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According to the forecasts of Yves Lamoureux, president of Lamoureux & Co, engaged in macroeconomic research, by the end of 2023 the Bitcoin rate will reach $100,000.

In conversation with MarketWatch, Yves Lamoureux(Yves Lamoureux) called the recent fall in the Bitcoin rate and the correction of the cryptocurrency market a common occurrence for the “crypto winter”, which is already coming to an end. Lamoureux suggested that Bitcoin will soon begin to grow rapidly, reaching $100,000 by the end of 2023, and this price rally will last until 2025. 

An important factor that can greatly influence the growth of the first cryptocurrency will be the halving of the reward for Bitcoin miners, planned for 2024, says President Lamoureux.

He said he didn't give a signal toinvesting large sums in Bitcoin, but simply recommends starting to buy it in small portions. BTC is currently hovering at $30,000, down 55% from the all-time high of $68,990 reached in November 2021. 

However, Bitcoin is starting to emerge from its bearish trend.market, Lamoureux noted. He believes that investing in other crypto assets is now very risky due to market instability, and cited the collapse of the Terra project as an example. Lamoureux has previously been skeptical of Bitcoin, advising investors to be cautious about it.

“I'm interested in Bitcoin because it...The “king of cryptocurrencies”, and this is where the money of institutional investors will flow first. All crypto assets strive for the level of Bitcoin, but they do not reach it. So always choose the best. Keep it simple, stay true to Bitcoin,” Lamoureux said.

A similar forecast for the Bitcoin exchange rate was made byPresident of El Salvador Nayib Bukele, however, in his opinion, Bitcoin may reach the $100,000 mark a year earlier. Ark Investment Management CEO Catherine Wood is also confident in Bitcoin's potential and expects Bitcoin to reach $500,000 in the next five years.