Regulated Swiss financial institution Seba has predicted that the price of bitcoin might attain $75K this 12 months. “Institutional money will probably drive the price up,” mentioned the financial institution’s CEO.
Seba Bank’s Bitcoin Price Prediction
Seba Bank CEO Guido Buehler shared his financial institution’s prediction on the place the price of bitcoin is heading with CNBC on the Crypto Finance Conference in St. Moritz, Switzerland, on Wednesday. Seba Bank is a digital belongings banking platform licensed by the Swiss Financial Market Supervisory Authority (FINMA).
Regarding the price of bitcoin this 12 months, he mentioned:
We consider the price goes up. Our inside valuation mannequin signifies a price proper now between $50,000 and $75,000.
“I’m quite confident we are going to see that level. The question is always timing,” he famous.
When requested if his financial institution’s prediction refers back to the price of bitcoin in 2022 and whether or not BTC will check a number of the file highs seen final 12 months, Buehler replied: “I think so, though volatility remains high.”
The Seba Bank boss additional defined that institutional traders will assist enhance the price of bitcoin in 2022. He opined:
Institutional cash will most likely drive the price up. We are working as a totally regulated financial institution at Seba. We have asset swimming pools which are searching for the best time to speculate.
Last week, Galaxy Digital CEO Mike Novogratz mentioned that his agency sees large demand from institutional traders for cryptocurrency. A current survey by Nickel Digital Asset Management discovered that institutional traders consider that extra regulation will enhance the price of cryptocurrencies.
Meanwhile, international funding financial institution Goldman Sachs predicted final week that the price of bitcoin might attain $100K as BTC continues to take gold’s market share as a retailer of worth.
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