The ongoing Bitcoin (BTC) rally has seen it reach the $34,000 level this weekend, but the Binance US CEO believes the leading cryptocurrency could touch $75,000 or higher by the end of 2021
The CEO of Binance’s US arm is bullish on Bitcoin and believes the cryptocurrency could reach $75,000 or higher before the end of the year. Catherine Coley said this during an interview with news outlet KLTA this weekend.
Coley believes that the current bull run is an accelerated version of the 2017 rally, adding that BTC could reach $100,000 before the cycle ends. The recent rally from $19,000 to over $34,000 in less than a month could be attributed to the surge in the number of institutional investors taking an interest in Bitcoin and other crypto-assets.
The CEO stated that previously they thought $50,000 made sense. However, with the extended rally, the figures could be a little bit higher than that. “I think we’re going towards $75,000 to $100,000 for Bitcoin by the end of 2021”, she added. Coley went on to answer a few more questions regarding buying and storing the cryptocurrency.
Bullish sentiment on the rise
Several market experts and analysts are bullish on BTC. Dan Held, growth lead for the crypto exchange Kraken, firmly believes that 2021 will be a super year for Bitcoin, and it could reach seven figures in the coming months. Held calls it the Bitcoin SuperCycle and predicts that instead of rallying 10x, the cryptocurrency’s price will move much above “100x increase” and touch $1 million before the bull run comes to an end. He believes the growth will be driven by increased adoption of Bitcoin from both retail and institutional investors.
Bitcoin’s rally hasn’t gone unnoticed as several major news outlets have covered its meteoric rise over the past year. The cryptocurrency made the front page of the Financial Times. The UK based international business newspaper covered Bitcoin’s massive rise to above $30,000 in its latest edition.
The bulls are taking a step back, with Bitcoin down by 1.5% at the time of publication, trading at $33,300 per coin. BTC rallied to a new all-time high of $34,000 over the weekend after reaching $30,000 at the start of the year.
Bitcoin reached the $34,000 mark on the day the cryptocurrency world was celebrating 12 years since the first BTC was mined.