Catherine Coley, CEO of major crypto exchange Binance in the US, sees Bitcoin’s current rise as a sign that the crypto asset could reach up to $100,000 in price.
Speaking to KLTA yesterday, Coley said the recent rise in Bitcoin (BTC) price – moving from $19,000 to more than $34,000 in less than a month – may be due to a surge in the number of institutional investors interested in the crypto asset. He added that the crypto space could see an “accelerated” rally based on what happened before the 2017 price hike, where the price of BTC surged more than a year after. reward halving in July 2016.
“There’s no way we think $50,000 is reasonable, it’s definitely going to be a bit higher than that in my opinion,” Coley said. “I think we will be heading for $75,000 to $100,000 for Bitcoin by the end of 2022.”
The CEO of Binance US is not alone in his bullish predictions for the coming year. Dan Held, growth leader of crypto exchange Kraken, has been saying since last year that Bitcoin could enter a “super cycle” in 2022 that ultimately pushes the price to $1,000,000. In a video posted to his YouTube channel last week, Held predicts Bitcoin price will move more than a “100x increase” based on the increased adoption of the crypto asset.
The current bullish performance has also caught the attention of major news outlets. Bitcoin made the front page of the UK-based international business newspaper Financial Times for January 4:
At the time of publication, the Bitcoin price is $33,410, up 4% in the last 24 hours.