Bitcoin price is projected to soar to the level of US $ 75,000 or equivalent to Rp. 1.06 billion (exchange rate of Rp. 14,200). Because, many institutional investors are starting to jump into these crypto assets. This was conveyed by SEBA Bank CEO Guido Buehler as quoted from CNBC.
"We believe prices will go up," he said.
Based on an internal valuation model, the Bitcoin price is between the $50,000-75,000 level. He believes, Bitcoin will break through at that level.
"I'm pretty sure we'll see that level. The question is always timing," he said.
After surging to an all-time high of $69,000 in November, Bitcoin has been on the decline in recent months and its price briefly fell below $40,000 on Monday.
However, he stressed, volatility will remain high. The decline in prices this week comes as rising treasury yields and the prospect of higher central bank interest rates continue to lead investors to forego riskier assets.
Bitcoin fell as much as 6% on Monday to hit a low of $39,771.91 based on Coin Metrics data.