Bitcoin is already up about 80% this year, but Nexo’s Chief Executive is confident there is even more room to rise.
Bitcoin could reach $50,000 by the end of the year
Copy link to section
In a recent interview with CNBC, Antoni Trenchev said it was conceivable that the world’s largest cryptocurrency could end the year between $40,000 and $50,000.
The CEO of the crypto lending company expects BTC to recover once the Federal Reserve confirms that the tightening cycle is coming to an end. That’s because loose monetary policy encourages interest in risky assets.
Note that headline inflation was only a percentage above the Fed’s target of 2.0% in June (read more here). That suggests that the central bank is now closer to a pivot. That’s probably why others, including Professor Carol Alexander, also expect Bitcoin to hit $50,000 by the end of 2023. The price target signals another 65% from here.
Interestingly, other cryptocurrencies tend to react positively to strength in Bitcoin as it is a gauge. Therefore, it is likely that emerging platforms like Chancer.com will also benefit once BTC unlocks its next move up.
Chancer combines crypto and betting
Copy link to section
Chancer is first and foremost a social gambling platform – one that is unique in that it merges two fast-growing markets: cryptocurrency and gambling.
It is built on a blockchain and powered by a native $CHANCER token. Using the BSC0 token is an entry ticket to making and participating in bets on anything and everything – be it the upcoming election or maybe a football match you want to watch with friends.
Remember, Chancer is committed to becoming a decentralized network. That means the community will eventually play a bigger role in determining the future direction. To exercise that right of control in critical matters related to the company, users must own the $CHANCER token.
On top of the aforementioned use cases of the native token currently in presale, $CHANCER is also an investment and its price fluctuates based on supply and demand.
Chancer token presale is in high demand
Copy link to section
Chancer has already raised nearly $1.0 million in token sales – an indication that demand is strong, painting a rather rosy picture of what the future holds.
The native token is expected to reach $0.021 at the end of the current presale. For comparison, the token is currently worth $0.01. Simply put, $CHANCER is expected to increase over 100% from here.
Like peers, the crypto token will appear on notable exchanges once the presale is over. That is usually a meaningful catalyst for a digital asset and also helps a lot in the price increase.
Investing in the said token is quite easy and that is well elaborated here on the website.
The NFL season will also help $CHANCER
Copy link to section
Remember that the crypto market as a whole could benefit from multiple tailwinds.
For example, the US appears to be about to approve a Spot Bitcoin ETF as the mighty BlackRock Inc has applied for one. The asset manager has a reputation for not applying for an exchange-traded fund until he is almost absolutely sure the regulator won’t get in the way of it. On the other side of the Atlantic, Europe is poised to introduce a Spot Bitcoin ETF by the end of the year as well.
In addition, there are a number of catalysts that can benefit Chancer.com in particular. That includes the NFL season which kicks off in about a month. The sports competition is likely to result in a surge in betting and the blockchain-based platform can benefit from this as it sits at the heart of gambling and digital gaming.
It is important to note that gambling and digital gaming will be worth $90 billion by 2023 and is expected to grow at a CAGR of 10% over the next few years – and Chancer as a platform and native token as an investment will gain traction with the aforementioned market growth .
For more information on the ongoing presale, visit Chancer.com.