Time is our best friend: Bitcoin’s 12-month trajectory to $100K

Back in June, I wrote that Wall Street remaining on the sidelines is not necessarily bad for our industry. While most traditional investors are still observing, Bitcoin’s (BTC) mainstream momentum has been building over the last four months. Currently, the price is hovering around $18,000, steadily approaching its historical all-time high.

When we talk about asset valuation, the first step is always to understand the fundamental economics. Equities, bonds and real estate, for example, generally derive value from generating cash flows. Therefore, valuation of these assets involves projecting future cash flows. Commodities, on the other hand, are more utility-based, so their prices are anchored by industrial supply and demand.

Hong Fang is the CEO of OKCoin — a cryptocurrency exchange headquartered in San Francisco — and is the chief operating officer at OKGroup. Hong comes from a Wall Street background, having spent almost a decade at Goldman Sachs (NYSE:), where she focused on mergers and acquisitions, capital markets, investment, restructuring and various other corporate development activities for both traditional financial institutions and fintech companies. She is a graduate of Peking University in Beijing, China, and has an MBA in finance, accounting and entrepreneurship from the University of Chicago’s Booth School of Business.