Eric Voorhees, founder and CEO of crypto exchange Shapeshifter, says he cannot call the next bull market with any exactitude, but that it would come in the next 6 months to 3 years.
$40,000 by the Summer?
Erik Voorhees, the CEO and founder of ShapeShift, expressed optimism about the potential recovery of Bitcoin’s price during an interview with Bankless on January 2nd. He stated that he “wouldn’t be surprised” if Bitcoin reaches “around $40,000” by the summer.
This would be a “great return,” Voorhees said, as it would be 2.5 times the current price of $16,666. While he could not pinpoint the exact timing of the next bull run, he estimated it would occur within the next six months to three years. He dismissed the idea that it could take as long as 10 years, stating that if that were the case, it would mean the whole “thing… probably failed.”
Voorhees noted that the macro environment, interest rates, and monetary conditions will greatly impact the crypto market this year. He also acknowledged that the reputation of crypto among non-industry individuals is “just trash,” but added that these same individuals will be “blindsided” when the next rally occurs. Voorhees concluded by stating that, regardless of whether we are in a bull or bear market, we are “in the middle of a revolution right now.”
Money needs to be decentralised
The Shapeshift founder has always made it known that he is in the cryptocurrency space to help build and promote freedom from the monopoly that the State has over money.
To this end, in the Bankless interview he stated:
“I’m here to separate money and State, and every technology, every blockchain, every app, that helps further that, is something that I’m going to be supporting.”
“I’m here for the principle of decentralising money away from the State.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.