Bitcoin price has reached a new record high of over $34k, causing many to give their predictions for the future. Binance.US CEO, for one, believes that the coin will end the year between $75k and $100k. Past predictions saw it hit $50k, but as the coin is closing in on this level, she believes it could do more.
So far, 2021 has been a very kind year to cryptocurrencies. In the first few days of the new year, Bitcoin has reached a brand-new all-time high of $34.4k, and even Ethereum climbed back up and above $1,000 per coin. While many are wondering how high the coin can go, some experts decided to offer their personal answers. Binance.US CEO, for example, expects Bitcoin to hit $100k by next year.
Bitcoin at $100k by the end of the year
Bitcoin’s potential and possibilities surrounding it have always been a matter of speculation. The more speculators joined the debate, the wilder their theories became.
Some have even suggested that BTC could hit $1 million, and while this is possible someday, it is unlikely that it will happen this year. However, given that the coin has already gone beyond $34k, predictions that announce its peak at $100k are starting to seem more and more realistic.
One such prediction came from Catherine Coley, the CEO of Binance.US. Coley stated yesterday that the Bitcoin price moved from $19k to $34k in a matter of weeks. The surge may be the result of a massive interest coming from institutional investors, as she speculated.
But, the fact is that BTC price is definitely going up, currently through completely uncharted territory. Based on what happened before the bull run of 2017, Coley has reason to believe that this is not the end of Bitcoin’s growth.
In fact, she expects the crypto space to see another accelerated rally, similar to the one that happened over a year after Bitcoin’s second halving in 2016.
$1 million might be a possibility after all
Speaking of past and present predictions, Coley noted that once, $50,000 made sense as the new all-time high. However, given the fact that BTC is already almost at $35k, it appears that there is a lot more room to grow, and that the actual number might be higher. She expects it to anywhere between $75k and $100k by the end of 2021.
This opinion was echoed by many others, such as Kraken’s growth lead, Dan Held, who believes that BTC might enter a supercycle in 2021, which could theoretically launch its price up to $1 million.
