Speaking to KLTA news outlet yesterday, Coley said the latest Bitcoin Price Surge (BTC)—moving from $19,000 to more than $34,000 in less than a month—may be attributed to a rise in the number of institutional investors taking an interest in the crypto commodity. She added that the crypto space could see a “accelerated” recovery focused on what had transpired before the 2017 bull run, in which the BTC price increased more than a year after the incentives were halved in July 2016.
“Where maybe we thought maybe $50,000 made sense, this number is definitely going to be a little bit higher than that in my opinion,” said Coley. “I think we’re going towards $75,000 to $100,000 for Bitcoin by the end of 2021.”
The CEO of Binance.US is not alone in her whimsical forecasts for the coming year. Dan Holding, Crypto Exchange Kraken’s development lead, has been saying since last year that Bitcoin could reach the “supercycle” in 2021, potentially pushing the price to $1,000,000. In a video posted to his YouTube channel last week, Holding forecast that the price of Bitcoin will move even more than a “100x increase” based on a growing acceptance of the crypto asset.
The current bull run has also caught the attention of major news outlets. Bitcoin made the front page of U.K. based international business newspaper Financial Times for Jan. 4:
— Financial Times (@FinancialTimes) January 3, 2021
At the time of publication, the price of Bitcoin is $33,410, having risen 4% in the last 24 hours.
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