“Bitcoin is probably going to end at this $22,000 to $25,000 range [for bitcoin] and next year $30,000 to $35,000 and then we will break out to these new high levels. Celsius Network co-founder and CEO Alexi Mashinsky when asked if bitcoin was on a collision course to reach $500,000. Celsius, a crypto loan company, tapped into the renewed bitcoin fever to raise $20 million via equity crowdfunding in August to support its operations.
Bitcoin prices surged beyond the $20,000 mark this week and hit fresh record highs. On Thursday, prices crept to about $23,000. Year-to-date bitcoin prices are up about 224%.
The sizable year-end move in bitcoin is giving some investors in the space a flashback to the big run-up seen in 2017. Bitcoin prices surged to $17,000 by mid December 2017, only to plunge to $3,100 or so a year later as speculators were crushed under the weight of their own greed and a raft of unfriendly news.
But industry pros say this time is different because of newfound institutional demand for bitcoin. The buying, pros think, only supports the view of bitcoin as a credible alternative to fiat currencies.
“Bitcoin is for everyone,” longtime bitcoin bull Mike Novogratz told Yahoo Finance Live. “Everyone should put 2% to 3% of their net worth in bitcoin and look at it in five years, and it’s going to be a whole lot more.”
Bitcoin is likely to worth more than $100,000 in the near future. Let’s celebrate the current milestone of Bitcoin and cheer for Bitcoin in near future with the Bitcoin and Crypto merchandises.