Bitcoin News: Altcoin Daily CEO Aaron Arnold shared his views on the future of Bitcoin.
Will Bitcoin hit $100,000?
Aaron Arnold, co-founder and CEO of Altcoin Daily, listed some plausible reasons for this, saying that Bitcoin is not yet ready to hibernate. In a new video, Arnold, addressed to 815,000 YouTube subscribers, predicted that Bitcoin, the flagship of cryptocurrencies, will show a continuous growth trend.
Arnold based his predictions on:
“I am extremely optimistic about Bitcoin. First of all, it has very strong foundations, besides, its censorship-resistance, decentralization, no need for approval from anyone, and immovability are the biggest advantages that Bitcoin has always had. She is pregnant with many things in 2021. In my opinion, there is no way Bitcoin will not exceed $100,000 this year. Bitcoin has a lot to do. Hash rate increased and active addresses increased. The Bitcoin balance on the exchanges is still very low.”
Crypto analyst Arnold also points out that institutions and regulatory bodies continue to be interested in Bitcoin, the largest crypto asset.
“PayPal and Venmo are building infrastructure in a way we haven’t seen before. The US Currency Controller is in approval mode. They regulate BTC, regulation means giving way to it. Their regulation means they won’t ban it. That’s why Wall Street accepts it. That’s why we see that institutions create the infrastructure. They are preparing not just for next year, but for the next ten years. The adoption of central bank digital currencies (CBDC) means great PR for Bitcoin.”
Looking at the latest data, Arnold says that BTC holders are confident in Bitcoin’s long-term outlook as they see the recent market crash as a chance to increase their holdings:
“Long-term HODLers are buying at this bottom. Long-term investors tend to buy much more than they’ve ever sold, these people buy at the bottom. To be more specific, last month long-term HODLers added 221,000 Bitcoins to their holdings.”