Nexo’s Antoni Trenhcev seems bullish on Bitcoin price

Bitcoin price has seen notable growth amid the global COVID-19 pandemic. Over the past year, the asset was able to gain more than 60%. Although, the year remained highly volatile for the asset class. Many believed that by the end of the last year BTC would hit $100k. But the asset closed the year below $50k. Still many are bullish on the asset, and believe that this year BTC will garner more adoption. Simultaneously, Antoni Trenchev, the co-founder of Nexo targets that the price of the asset will skyrocket to hit $100k by mid-2022.

Another promising Bitcoin price prediction

Bitcoin price has commenced this year with green candles. But it does not take much time for the  asset to turn its sentiment into bearish actions. Notably, the Fear & Greed Index shows extreme fear. 

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Since the beginning of this year, several optimistic investors and traders are predicting that the asset will grow notably with more adoption. Antoni Trenchev has made another similar price prediction for bulls in 2022.

In a recent interview with CNBC, Nexo co-founder underscored that BTC could hit $100k as soon as the summer. 

Rectify the mistakes made in 2020 and 2021

Despite the indicators highlighting extreme fear, the Bulgarian business mogul, Trenchev set the record straight. According to Trenchev, investors and hodlers should not write off the flagship cryptocurrency, as every time we do that, it significantly outperforms. He further explained that such was the scenario we have witnessed in 2020 when the price rallied by about 1000%. 

Later in 2021 a similar case was identified. And in the year the Bitcoin price rallied by more than 60%. Hence, investors should continue hodling and stay bullish.

More significant adoption is near

Nexo, one of the significant lending institutions in the digital finance ecosystem is privy to insights from serving 2.5 million users. Notably, the services are available to users across more than 200 jurisdictions. We have witnessed how the firm was forged in the bear market of 2018.

Following the case, Trenchev highlighted that access to cheap money and institutions filing their bags with digital assets will ultimately propel Bitcoin price over the $100k wall. Indeed, we have several evidence that institutional Bitcoin adoption is brewing. Many also believe that regulatory clarity will also help boost the price of the millennial asset class.