The head of Defiance ETFs says she is “completely bullish on bitcoin.” Noting that it is a “good time” to get into the cryptocurrency, she explained why she believes the price of bitcoin will reach $100K.

CEO of Defiance ETFs Bullish on Bitcoin

Sylvia Jablonski (chief executive officer, chief investor officer and co-founder defiance ETFs) spoke out in an interview with CNBC on Thursday about her optimism regarding bitcoin despite recent price drops.

Defiance ETFs are registered investment advisors and sponsors of exchange-traded funds (ETFs). They specialize in thematic investing.

Jablonski stated to the media outlet:

I remain completely bullish on bitcoin. I believe that the short-term activity is merely noise.

She noted: “It looks as though, in terms of what we’ve seen for the last six months to a year or so, is that bitcoin is correlated with risk assets and equities specifically.”

The executive explained that investors tend to buy more bitcoin and ether when the crypto market rallies for a few days. She also pointed out that when there are pullbacks, investors seem to be hitting Bitcoin too.

Regarding bitcoin as an inflation hedge, she admitted that “a couple of years ago, a lot of us thought that bitcoin was going to be this great inflation hedge and it was going to react in a similar way to gold and it was going to be this safe-haven inflation trade, but I think it’s trading more like a Nasdaq 100 stock than it is like an inflation trade.”

Jablonski predicted, “In the short term it’s going to be sideways volatility, it’s going to be range-bound price action, but longer-term, I still expect bitcoin to be in that $100,000 camp before I expect it to go to zero.” The Defiance ETFs boss elaborated:

I still think it’s kind of a good time to get in.

Jablonski described: “We have to think about it as we do the market so if I think about what happened with some of the broad-based indices, and again just using Nasdaq as an example, at one point we hit 200-day moving average and Nasdaq was very much in bear market territory, 20% or more below all-time highs.”

She emphasized:

Bitcoin mirrored that, and here we are getting off that 200-day average on Nasdaq and we are getting off our lows on bitcoin as well.

“I think we have a tradable top. Although I believe we will have short-term rallies I do not think this is the end of the story. The market is more vulnerable to range-bound volatility than it was before. She also shared that there is a psychological component to headwinds.

The executive said: “You have (*] Russia-Ukraine [war], inflation, and that just keeps the investors holding onto their cash which is actually a big mistake in the end because it locks in losses .”

Jablonski said: “But once they sort of get past the psychological aspect and we kind of see the fundamentals of the economy and cryptocurrency, bitcoin, then you’ll start seeing it rally so I don’t think we’re going to get that straight shot just yet.”

I think you’ll get some range-bound volatility now between $46,000, $47,000, and $50,000. I think kind of down the road we’ll see that rally up to $100,000.

At the time of writing, bitcoin is trading at $46,075 based on data from Bitcoin.com Markets.

What do you think about Sylvia Jablonski’s comments? Please leave your comments below.

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