Bitcoin has stood the test of time and despite falling more than 70% from its all-time high in November 2021, the digital money is expected to reach $100,000 price level this year. It is important to mention here that BTC rallied more than 27% last week.
The bullish prediction for bitcoin, which has broken the $500 billion market capitalization barrier, came from Marshall Beard, the Chief Strategy Officer at Gemini, a crypto exchange headquartered in the U.S.
“I think bitcoin probably breaks all-time highs this year,” Beard said, while pointing out the fact that the $100,000 price region is an “interesting number.” The Gemini executive pointed out that if the digital money reaches its all-time high of $69,000, “it doesn’t take much more for it to lift up” to $100,000.
Taking into account its current price, in order to reach the $100,000 price level, Bitcoin will need a 270% increase in its price. On the other hand, the Chief Technology Officer of Tether, the issuer of USDT, Paolo Ardoino, claims that bitcoin will surpass the $69,000 price level in the near future. As per a previous report, former White House chief Anthony Scaramucci, who is also the founder of Skybridge Capital, said that BTC will reach a price of $100,000 per coin soon.