“We think the price will go up,” said Guido Buehler, CEO of Seba Bank CNBC. Seba is a regulated Swiss bank focused on cryptocurrency.
The bank manager expects an increase of up to $75,000, which is the all-time high for cryptocurrency bitcoin.
“Our internal valuation models suggest a price that is now between $50,000 and $75,000,” Buehler said.
– I’m sure we’ll see that level. The question is always timing, Boehler said.
Bitcoin price could nearly double to $75,000 this year as more institutional investors start adopting the world’s most popular cryptocurrency, according to the bank’s head.
After hitting a record high of $69,000 in November, the value of Bitcoin has collapsed in the past few months, with the price briefly moving below 40,000 on Monday, meaning it is hovering near lows not seen since September.
The rate fell further this week as higher interest rates continued to prompt investors to place deals in risky and growth oriented assets.
On Monday, bitcoin fell as much as 6 percent to as low as $39771, according to Coin’s metrics. Bitcoin was trading at $43,616 on Wednesday afternoon.
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