Crypto Influencer Thinks Bitcoin Is Poised For A 244% Increase

One big crypto influencer and the co-founder of Kenetic Capital (blockchain investment firm) believes that the increasing presence of institutional money in the world of cryptocurrency is definitely building a strong backbone for the future of this industry. His statement is featured in our latest cryptocurrency news.

Named Jehan Chu, the partner at Kenetic Capital spoke to Bloomberg recently, telling the source that Bitcoin will rise 244% to $30,000 as investors look for alternative types of technology investments.

The crypto influencer said:

“What people are really seeing now is that cryptocurrency is not going away. And you don’t have to take my word for it. It’s Facebook, it’s Jamie Dimon, it’s Rakuten, it’s Fidelity – all who are getting in the space either in building infrastructure or providing services. So that’s first. It’s going to drive mindshare and drive adoption. Second, I think what we’re seeing is a counter-cyclical argument. With the recent disappointments of Uber and Lift IPO-ing in the market, people are looking for a different type of tech story, and one that’s perhaps accessible to all. And finally, the Bitcoin halving is coming. And traditionally that’s pushed the price in double-digit percentages. So a combination of these three factors, I think, will really see us getting from where we are now to $30,000.”

Despite Bitcoin being a top dog right now, the crypto influencer Chu thinks that the blockchain and crypto movement at large is much bigger than BTC. His statement was re-shared by many best cryptocurrency news sites, where he wrote:

“Bitcoin is the biggest brand. It’s the massive elephant in the room and it definitely has a center of gravity that many other cryptocurrencies and coins benefit from. It’s going to pull up the rest of the market. But in truth, many of the different applications that back the cryptocurrencies in their own right are developing on their own story and developing utility. So these are the other altcoins that have their own large market caps, like Ether, which is coming up to its own on-year highs.”

Chu was in the coming altcoin news too for claiming the potential of Ethereum, along with Ripple and XRP. According to the crypto influencer, these should not be underestimated:

“From a utility standpoint, we’re seeing Ethereum as the lead. The rate of adoption and the rate of development that the Ethereum team, providing a decentralized global computer, is just astounding. People keep saying Ethereum is going away, but it’s not going away. It’s still one of the largest coins in the world with the largest developer audience.  I’m also interested to see what Ripple does. I think Ripple’s made great headway in providing different types of payment currencies to many of the banks and getting key partnerships around the world.”