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Regulated Swiss bank Seba predicts that the price of bitcoin could hit $75,000 this year. “Institutional money could push prices higher,” the bank’s chief executive said.
Bitcoin Price Prediction by Seba Bank
Seba Bank CEO Guido Buehler shared his bank’s forecast for Bitcoin’s price direction with CNBC on Wednesday at the Crypto Finance Conference in St. Moritz, Switzerland. Seba Bank is a digital asset banking platform licensed by the Swiss Financial Market Supervisory Authority (FINMA).
Regarding the price of Bitcoin this year, he said:
We think prices are going up. Our internal valuation model suggests the current price is between $50,000 and $75,000.
“I’m pretty confident we’ll see that level. The question is always time,” he noted.
When asked if his bank’s forecasts refer to bitcoin prices in 2022 and whether bitcoin Buehler, who will test some of last year’s all-time highs, replied: “I think so, although volatility remains high.”
The Seba Bank boss further explained that institutional investors will help boost Bitcoin’s price in 2022. he thinks:
Institutional money could push prices higher. We work at Seba as a fully regulated bank. Our asset pool is looking for the right time to invest.
Last week, Galaxy Digital CEO Mike Novogratz said his company believes huge demand Cryptocurrencies from institutional investors. A recent survey by Nickel Digital Asset Management established Institutional investors believe that more regulation will push up the price of cryptocurrencies.
Meanwhile, global investment bank Goldman Sachs expected Bitcoin price could hit $100,000 last week as bitcoin Continue to use gold’s market share as a store of value.
Do you agree with Seba Bank on Bitcoin price and institutional demand? Let us know in the comments section below.
Image Source: Shutterstock, Pixabay, Wiki Commons
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