Crypto influencer Ben Armstrong, also known as Bitboy Crypto, recently shared his thoughts on the future of the cryptocurrency market, including concerns about potential regulations and his predictions for the prices of various cryptocurrencies.
Regulations Could Impact Crypto Usage
Armstrong warns that, just like with weed, the government could make it more difficult for people to use Bitcoin. If the government were to come out and declare Bitcoin illegal, it could have a significant impact on its usage in the United States. Armstrong also expressed concern about the possibility of Gary Gensler winning the SEC chair position, stating that it would be horrible for the crypto space if he brought all of the cryptos under regulation.
Armstrong also talked about his Ethereum bet, challenging Bitcoin maximalists who think Ethereum will be deemed a security to take him up on the bet. However, he clarified that the bet is not related to the Ethereum initial token sale, as that is not representative of Ethereum as it stands today.
Crypto Price Predictions
Armstrong predicts that if Bitcoin reaches $50,000 by the time of the having, it could be looking at a supercycle. He suggests that regulatory measures between now and the having could impact the market. Armstrong says that he and his team plan to provide a series of price predictions based on different price points, including $20,000, $30,000, $40,000, $50,000, and $60,000.Â
They will also be more conservative this time around to prevent people from getting their hopes up too high. Armstrong predicts that a $20,000 investment in 10 different coins, including Bitcoin (BTC), Cardano (ADA), Filecoin (FIL), Polygon (MATIC), Stellar (XLM), The Sandbox (SAND), Graph (GRT), Mina (MINA), Optimism (OP), and a $2,000 investment in each, could be worth at least $100,000 by 2025.
