Seba Bank CEO forecasted Bitcoin Could Rally to $75K

  • A prediction has been made by the Chief Executive Officer of Swiss bank Seba that Bitcoin might hit the milestone of $75,000 in 2022.
  • Goldman Sachs also made a forecast recently, stating that Bitcoin has the potential of reaching the 100k milestone.
  • As of this writing, Bitcoin was still dominating the market and was trending at the market price of $43,779.25, up by 2.67% in 24 hours.

The Forecast of Seba Bank

Guido Buehler, CEO of Seba Bank, shares his forecast regarding Bitcoin’s price with a news agency during the Crypto Finance Conference held in St. Moritz in Switzerland. Seba Bank is a platform for digital assets registered by the Swiss Financial Market Supervisory Authority (FINMA).

The CEO said that they have faith that the price of bitcoin will escalate this year. The internal model for valuation points out that it will rise somewhere between $50,000 to $75,000 this year. And the individual is very confident in the fact that the Bitcoin will rise. The only question that awaits is the timing when it hits that level.

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Guido Buehler was questioned whether the forecast was associated with bitcoin’s market value. The individual appeared optimistic regarding the fact, in spite of the high volatility of the coin.

Further explanation was made by the Seba bank CEO that the price will be boosted through the assistance of the institutional investors. The CEO explained that the price would be pushed by institutional money. As per the individual, they are working as a completely regulated bank at Seba. They also have asset pools that are waiting for the right opportunity to kick the pot that will offer an affirmative gain.

Just a week ago, Mike Novogratz, CEO of Galaxy Digital, stated that an awe-inspiring demand from the cryptocurrency institutional investors. A survey was done by Nickel Digital Asset Management recently discovered that if more limitations are applied, then they can push the prices of crypto assets upwards.

ALSO READ – VIGOROUS INTEREST LEFT BEHIND BY TEDIOUSNESS OF BITCOIN ETF

Goldman Sachs, an international investment bank, made a forecast, not more than a week ago, that the market price of Bitcoin may hit the 100k mark this year, as the Bitcoin is taking the share of the gold market as a store of value.

Bitcoin did not have an excellent start to the year, plunging to a five-month low of $39,796.57 earlier this week on mounting worries that the Federal Reserve’s increased interest rate could cause an evacuation of investors from the immature and volatile crypto market to conventional financial goods.

However, Bitcoin’s price has begun to consolidate in a bullish pattern, which many believe will lead to a long-term increase. Guido’s upbeat attitude stems from his assumption that institutional investors would begin to take fresh holdings in the crypto ecosystem.

As of this writing, Bitcoin had a market capitalization of $828.6 Billion, with a 24-hour rise of 2.67%, it was trending at the price of $43,779.25.

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Steve Anderrsonhttp://www.thecoinrepublic.com
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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