Bitcoin's BTC/USD price could see a significant increase by the end of the year, according to Fred Thiel, CEO of Marathon Holdings Inc. MARA.
Bitcoin (CRYPTO: BTC) price could see a substantial increase by the end of the year, according to Fred Thiel, CEO of Marathon Holdings (NASDAQ:MARA). In an interview with CNBC, Thiel shared his optimistic outlook for the cryptocurrency.
"I think there’s a general consensus that the price of Bitcoin will move up this year to somewhere between $150,000 to $200,000 by the end of this year.
Thiel's prediction comes amidst a backdrop of various market analyses and predictions regarding Bitcoin’s future. According to a report by Standard Chartered, Bitcoin has the potential to reach a new all-time high above $108,000 in February, contingent on the absence of negative market catalysts.
The behavior of U.S. Treasury yields, particularly the 10-year yield, plays a crucial role in this outlook.
Furthermore, Katalin Tischhauser from Sygnum Bank highlighted that a strategic Bitcoin reserve purchase of $1 billion could potentially trigger a $20 billion surge in Bitcoin’s market cap.
This increase would result from direct capital inflows and a significant upward price surge, driven by the limited liquid supply of Bitcoin.
Moreover, crypto analyst Michaёl van de Poppe has urged investors to hold onto their crypto assets, emphasizing that Bitcoin is fairly valued while altcoins remain undervalued.
At the time of writing, Bitcoin was trading at $96,200, down 0.8% over the past 24 hours, according to Benzinga Pro.
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