Bitcoin price is expected to double to $75,000 in 2022. On Wednesday, at the Crypto Finance Conference in St. Moritz, Switzerland, SEBA Bank CEO – Guido Buehler told CNBC’s Arjun Kharpal, “We are in the opinion that the price is going up.” He further added, “this all-time high is due to more institutional investors adopting the world’s most popular cryptocurrency.”
“Our internal price models stipulate a price right now between $50,000 and $75,000,” said the Swiss bank’s manager. He added, “I am highly confident of seeing that level super soon. All depends on the right timing.”
In November 2021, bitcoin was winged to an all-time high of $69,000. BTC witnessed a value drop over the last couple of months and its price collapsed below $40,000 on Monday. The drop-down indicated the price fluttering a low not seen since September.
Will the Most Popular Cryptocurrency – Bitcoin Stand the Test of Record?
Asked if the most popular cryptocurrency – BTC will test the record levels like 2021, SEBA Bank CEO, Guido Buehler claimed, “I think so, it will. But I’m worried about whether or not bitcoin’s volatility will remain high.”
The price collapse seen this week came as an emerging Treasury returns. The likelihood of higher central bank interest rates emphasized investors to outbuild positions in risky & growth-oriented possessions.
“Bitcoin fell approximately 6% Monday touching a low of $39,771.91,” reports Coin Metrics. BTC traded at $42,921.55 at around 5 a.m. ET on Wednesday.
Institutional Investors
Buehler said, “I think institutional investors will assuage in hefting the price of bitcoin in 2022.” He added, “Institutional money is expected to navigate the price up. We’re functioning like a fully regulated bank. We also possess asset pools. All we’re waiting for is the right time to invest.”