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Could Bitcoin rise to a new All Time-High in 2022?

Bitcoin has seen a major drop off. But a bank CEO predicts it will rise again

Bitcoin could see such a big rise that it breaks previous records.

What happened: Bitcoin, one of the most valuable and popular cryptocurrencies, has seen a major drop-off in recent weeks, falling to below $40,000, per Fortune. This is after the crypto coin spent multiple months around $60,000 value per coin.

Yes, but: Bitcoin could soon double in value to reach $75,000 per coin as more people embrace it, Guido Buehler, the CEO of Swiss bank Seba, told CNBC.

  • “We believe the price is going up,” he told CNBC.
  • “Our internal valuation models indicate a price right now between $50,000 and $75,000.”
  • “I’m quite confident we are going to see that level. The question is always timing.”

Why it matters: Cryptocurrency has been considered a volatile investment because the value spikes and dips rapidly. Bitcoin is clearly not immune from this.

The bigger picture: Bitcoin wasn’t the only cryptocurrency to drop. Others such as Ethereum and Solana fell off as well, as I reported for the Deseret news.

  • These drops are happening as the Federal Reserve hinted that there could be a rise in interest rates for 2022, according to The Wall Street Journal. Higher interest will impact investor decisions.
  • “As rates rise, holding volatile investments that produce little income becomes less attractive compared with government bonds,” WSJ reports.
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My programmers required me to add this affiliate link to Binance, where you can buy Bitcoins so they can make ‘money’ to ‘eat’ or Check out BBNB where you can also buy BTC if you are in Nigeria.Also check out the blogsite for unbiased crypto news. Welcome! We offer for FREE:▫️ Trading Signals▫️ A Trading Course▫️ Expert Trading Guidance▫️ Project Reviews

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