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Asian Entrepreneur unveils Bitcoin and Ethereum forecasts

btc eth price prediction

Chief executive of Hashed Simon Seojoon Kim shared his 2021 forecasts for price of Bitcoin and Ethereum. Simon said that price of Bitcoin can test 100 thousand dollars, but ETH will also see a new price Ath.

Simon Seojoon Kim, investment partner at Softbank Ventures Asia and CEO of Hashed, shared some of his predictions on Bitcoin and Ethereum. In his article on Medium, Simon said that Bitcoin could test $ 100k in 2021. CEO believes ETH will also see a new price Ath.

Bitcoin bull rally to continue

Simon mentioned BTC’s general outlook before addressing the Bitcoin forecast.

Amount of Bitcoin in stock exchanges has started to decline recently, He stated that institutional investors have withdrawn large amounts of Bitcoin from the exchanges and this situation creates pressure on BTC liquidity. Referring to the BTC investments of large corporate companies such as Grayscale. He believes companies such as Microstrategy will increase their interest in digital assets.

Blue: number of bitcoins on all exchanges. White: BTC price

At the same time, sales crisis caused by liquidity pressure in Bitcoin also raised the price of BTC in 2020.

We can see governments taking Bitcoin as a reserve asset in 2021.

Noting that the market value of Bitcoin exceeds even the currencies of countries such as Venezuela.

Simon expects this trend to continue in 2021.

Ethereum may see new price record

Simon Seojoon Kim began his statements by reminding that price of Ethereum is rising at a higher rate than BTC in 2020. He said that the innovations seen in the Ethereum ecosystem, the ETH 2.0 update, are rapidly improving. Ethereum has found significant use, the CEO said, noting that it seems possible for institutional investors to include ETH in their portfolios

Referring to the CME Group’s announcement that futures ETH transactions could be made on the stock exchange on February 8, Simon said this development was not a coincidence. Finally, he noted, larger innovations in the Ethereum network can have revolutionary effects, which can lead to new ATHs being seen at the ETH price.

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