Binance US CEO predicts bitcoin price of US$100,000 by 2022
Coley said there could be an accelerated version of the 2017 bull market, pushing the price to US$100,000.
Catherine Coley, the CEO of the US arm of major crypto exchange Binance, sees the current bitcoin bull market as a sign that the crypto asset could climb to as high as US$100,000.
Speaking to news platform KLTA, Coley said the recent Crypto Trader Bitcoin (BTC) rally may be due to institutional investors taking an interest in the crypto-asset. Bitcoin has risen from US$19,000 to more than US$34,000 in less than a month. She added that the crypto space could see an „accelerated“ rally, as it did just before the bull run in 2017, when the BTC price rose more than a year after halving in July 2016.
„You could just imagine it reaching US$50,000. Now I think it will definitely go a little bit higher,“ Coley said. „I think we can expect to see US$75,000 to US$100,000 for Bitcoin by the end of 2021.“
Bitcoin could enter a „super cycle“
The Binance.US chief is not the only one making bullish predictions for the year ahead. Dan Held, head of growth at crypto exchange Kraken, has been saying since last year that Bitcoin could enter a „super cycle“ in 2021 that will eventually push the price to 1,000,000. In a video posted last week on his YouTube channel, Held predicted that the bitcoin price would rise by much more than „100 times.“ The reason for this is the increasing acceptance of the crypto-asset.
The current bull market has also attracted the attention of major news platforms. Bitcoin made the front page of the British international business newspaper Financial Times on 4 January:
Just published: front page of the Financial Times international edition Monday January 4 https://t.co/0ANz1YQw27 pic.twitter.com/lN2t2CBKVU
– Financial Times (@FinancialTimes) January 3, 2021
At press time, Bitcoin was back above $33,410 and has risen 4 per cent in the last 24 hours.