Binance U.S. CEO, Catherine Coley, has recently predicted a remarkably bullish outlook of Bitcoin. She states that the crypto community will witness an accelerated version of the 2017 bull run by 2022. During an interview with a news outlet, KLTA, she says that the bitcoin price will surge. In a month, Bitcoin has reached from $19,000 to $34,000. Moreover, the reason behind this wave is the increase in the number of institutional investors.
Catherine Coley thinks that by 2022, the Bitcoin price will reach over $75,000 to $100,000. It is not only Catherine Coley that has remarked such bullish predictions about Bitcoin price, though other crypto players believe the same. The growth lead at Kraken, Dan Held, has predicted that Bitcoin will be extremely bullish in 2021. Bitcoin has the potential to reach $1,000,000 in 2021, states Dan Held. However, earlier, he predicted a massive rise in Bitcoin price due to its development in the user base and its adoption.
Dan Held predicted in a video posted on his YouTube Channel that the price of Bitcoin would relocate much more than a 100x increase. This is owing to the growing adoption of the crypto asset. Moreover, the way Bitcoin has been operating for the past few months is strengthening the crypto community’s expectations, particularly the Bitcoiners.
Institutional investors growing interest in Bitcoin
However, the Bitcoin price gained about 300% in 2020. Institutional investors are showing interest in Bitcoin as a hedge investment against a depreciating dollar. Jim Cramer, the CNBC Mad Money Analyst, also mentioned that his new-found appreciation of Bitcoin arises. The asset being something that he believes his children will know more so than gold.
Conversing with Morgan Creek Digital co-founder Anthony Pompliano’s podcast on Sept 15, Cramer said that he believes that his children won’t feel content acquiring gold but will feel comfortable with crypto. Cramer agreed that maybe he was held in the past with some of his early assessments and gold wealth storage leveraging.
Follow BitcoinWorld for the latest updates.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.