Marc Boiron, CEO of Polygon Labs, expressed confidence in Bitcoin's long-term prospects, predicting its rise to $250,000 despite current market conditions.
Marc Boiron's Bitcoin Forecasts
Marc Boiron, CEO of Polygon Labs, stated in an interview with Rob Nelson on Roundtable that Bitcoin's scarcity and growing demand will drive its price upward. He emphasized, 'You’ve got this one asset that has this fixed supply, and all you need to figure out is whether demand is going to increase for this asset or not.' Boiron also suggested that Bitcoin could trade as high as $250,000 this year due to its scarcity and constant demand growth.
Impact of Hacks on the Crypto Market
Following the recent hack on the crypto exchange Bybit, which resulted in nearly $1.5 billion being lost, cryptocurrency prices dropped. According to analysts, the Lazarus group from North Korea was responsible for the attack. Boiron pointed out that despite volatility, Bitcoin remains a stable asset amid tightening market regulations.
Cryptocurrencies' Status Post Recent Hack
After the attack, Bitcoin fell to less than $97,000, although it is currently trading at $96,581, representing a 1.36% rise over the past 24 hours. Ether slipped by nearly 4% below $2,700 but is also showing a 5% rise, trading at $2,774. Coinglass reported over $500 million in liquidations on Friday.
Marc Boiron continues to have a positive outlook on Bitcoin's future, seeing in its scarcity and upcoming regulations a support for its price growth.
