Perianne Boring believes Bitcoin fundamentals are stronger than ever and markets are behaving as expected
During her interview with CNBC’s Squawk Box, show president and founder of the Digital Chamber of Commerce Perianne Boring stated that 30-50% volatility on the crypto market is normal, and the Bitcoin network remains strong in its fundamentals.
She also cited several patterns that show Bitcoin reaching between $50,000 and $100,000 this year.
“Bitcoin fundamentals are strong as ever”
Speaking to host Joe Kernen, who mentioned that Bitcoin has so far failed to become a currency due to its high volatility, the head of the Digital Chamber of Commerce assured him that the current Bitcoin decline is normal.
According to her, 30-50% volatility is the norm in the crypto market; therefore, the market behaves as expected. She also assured viewers that the fundamentals of the Bitcoin network are “stronger than ever” – the network is growing faster than the internet in the late 90s and early 2000s, and the hashrate is at an all-time high. . Today, $32 million worth of Bitcoin is minted daily as more nodes join the network due to strong incentives.
During the discussion, Joe Kernen praised Bitcoin for being immensely up even now at $33,000, despite that level being 50% down from the recent all-time high above $68,000.
Several investor models show Bitcoin between $50,000 and $100,000
Another question the host asked is if Bitcoin can make a round trip to the $8,000 level now that it has already fallen to $33,500.
Boring stated that according to a number of models that professional crypto investors use, BTC is undervalued, and all these models project the Bitcoin price between $50,000 and $100,000.
Over 90% of these patterns are correlated, according to Perianne Boring. In 2021, she predicted that BTC could reach $288,000 by the end of this year.
