• Ryan Selkis, CEO of Messari, believes that more bank runs are coming and bitcoin could reach $100K in a year.
• He sees it acting as a “life raft”, predicting its price could soar to $100,000 in the next twelve months.
• The Federal Reserve will soon decide whether or not to focus on Quantitative Easing (QE) as an inflation-fighting tool.
Ryan Selkis Predicts More Bank Runs
Ryan Selkis – CEO of the crypto intelligence firm Messari – believes there will be more negative events in the financial world in the near future, including bank crashes. In a recent tweet, Selkis shared his vision regarding the future condition of the financial world and how those possible factors could affect bitcoin. He thinks the ongoing banking crisis is far from over, forecasting additional collapses in the following weeks. Silvergate Capital, Silicon Valley Bank, and Signature Bank are among those recently closed by regulators.
Bitcoin As A “Life Raft”
Selkis sees Bitcoin acting as “a life raft and peaceful exit option” amid this calamity, predicting its price could soar to $100,000 in the next twelve months. SVB – one of the top 20 biggest financial institutions in the USA before its collapse – filed for Chapter 11 bankruptcy protection on March 17.
The Federal Reserve’s Decision
Selkis predicted that the Federal Reserve will soon stop increasing interest rates and focus on other monetary tools like Quantitative Easing (QE) to battle inflation instead. It is yet to announce its decision on March 22 during its next FOMC meeting. QE is another policy that central banks could enforce to reduce inflation rates by purchasing government bonds and other financial instruments such as mortgage-backed securities from commercial banks and other private institutions with newly created money from their own reserves .
Effect On Bitcoin Price
If these predictions become reality then it may have positive effect on bitcoin price which then might shoot up towards $100K within a year according to Ryan Selkis’ prediction .
Conclusion
The future remains uncertain but if Ryan Selkis’ predictions come true then we can expect some interesting changes in both traditional finance world as well as cryptocurrency market with Bitcoin taking center stage once again .