Catherine Coley, CEO of Binance’s US crypto exchange, sees the current Bitcoin bull as a sign that the crypto asset could reach a price of up to $ 100,000.
Coley told the KLTA news agency yesterday that the recent rise in the price of Bitcoin (BTC) – which is moving from $ 19,000 to more than $ 34,000 in less than a month – could be due to an increase in the number of institutional investors interested in the crypto asset. She added that the crypto-space could see an “accelerated” rally based on what happened before the 2017 bull run, in which the BTC price rose more than a year after the rewards halved in July 2016.
“Where we might have thought $ 50,000 made sense, I think this number would definitely be a little higher than that,” Coley said. “I think we’re going at $ 20,000 to $ 100,000 for Bitcoin by the end of 2021.”
The CEO of Binance.US is not alone in her predictions for the coming year. Dan Held, the lead for growth in the Kraken crypto exchange, has said since last year that Bitcoin could enter a ‘superbike’ in 2021, which could eventually raise the price to $ 1,000,000. In a video posted on his YouTube channel last week, Held predicted that the price of Bitcoin would move much more than a ‘100x increase’ based on increasing acceptance of the crypto asset.
The current bull run has also attracted the attention of big news outlets. Bitcoin made the cover of the British business newspaper Financial Times for 4 January:
Just published: cover of the Financial Times international issue Monday 4 January https://t.co/0ANz1YQw27 pic.twitter.com/lN2t2CBKVU
– Financial Times (@FinancialTimes) January 3, 2021
At the time of publication, the price of Bitcoin is $ 33,410, up 4% over the past 24 hours.