Catherine Coley, CEO of the main crypto exchange, Binance’s American arm, sees the current Bitcoin bull run as a sign that the crypto asset can reach a price of up to $ 100,000.
Speaking to the KLTA news agency yesterday, Coley said the recent rise in the price of Bitcoin (BTC) – from $ 19,000 to more than $ 34,000 in less than a month – may be due to an increase in the number of investors institutions interested in cryptographic assets. She added that the cryptographic space may be experiencing an “accelerated” rally based on what happened before the 2017 bull run, in which the price of BTC rose more than a year after the rewards were halved in July 2016 .
“Where maybe we thought maybe $ 50,000 made sense, that number is definitely going to be a little bit higher than that in my opinion,” said Coley. “I think we are going to $ 75,000 to $ 100,000 for Bitcoin by the end of 2021.”
Binance.US ‘CEO is not alone in her optimistic predictions for the coming year. Dan Held, growth leader at crypto exchange Kraken, has been saying since last year that Bitcoin could be going into a “super cycle” in 2021, taking the price to $ 1,000,000. In a video posted on his YouTube channel last week, Held predicted that the price of Bitcoin would change much more than a “100-fold increase” based on the growing adoption of the crypto asset.
The current bullish run has also caught the attention of major news outlets. Bitcoin done the front page of the UK’s international business newspaper, Financial Times, January 4:
Just published: first page of the International Financial Times edition Monday, January 4th https://t.co/0ANz1YQw27 pic.twitter.com/lN2t2CBKVU
– Financial Times (@FinancialTimes) January 3, 2021
At the time of publication, Bitcoin’s price was $ 33,410, having risen 4% in the past 24 hours.