TL;DR Breakdown
- Wall Street brokerage firm CEO predicts Bitcoin price rise to $55,000 before end of the year.
- The leading crypto asset began bull run in December 2020 into early this year.
- Fiat currency tendency to be affected by inflation would push more people into adopting the crypto asset.
Anthony Denier, the CEO of a Wall Street brokerage firm, Webull, has predicted that Bitcoin price will rise to $55,000 before the end of the year. He made this prediction in a recent interview he granted to BusinessInsider.
Bitcoin prices would rise before the end of the year
While the price of the crypto asset has dropped considerably in a recent while, the asset reached an all-time high of $42k earlier in the year. Denier stated that he does not know the exact fate of the top coin’s value in the next few months, but he believes that the asset’s value would rise in the long run.
The CEO also added that the coin’s future is exceptionally bright since institutional investors like CashApp and PayPal have invested in it. He highlighted that this would further boost the adoption rate of the leading crypto asset that has enjoyed support from millennials.
Denier said that fiat currency tendency to be affected by inflation will further help to push more people to the coin.
Crypto adoption boosted by institutional investors
In 2020, we witnessed institutional investors’ entrance into the crypto industry as top institutions like Microstrategy, Square, Grayscale, and a host of others invested in the leading crypto asset.
The coin’s market cap currently stands at over $600 billion, far beyond that of top financial institutions like Visa, MasterCard, and Berkshire Hathaway.
Bitcoin price went on a bull run that began around the end of last year and into early this year. During this period, the asset reached new heights, and its run also influenced that of the overall crypto industry.
