Bitcoin At $100,000? Insiders Say The Cryptocurrency Could Test New Highs This Year

Marshall Beard, the Chief Strategy Officer at the U.S.-headquartered cryptocurrency exchange Gemini, said that Bitcoin could test new highs this year and reach $100,000.

Bitcoin has rallied nearly 70% so far this year — and industry insiders who spoke to CNBC remain bullish, with one saying the world’s biggest cryptocurrency could reach new heights.

Bitcoin previously hit its all-time high of $68,990.90 in November 2021. Since then it has fallen about 60%.

Marshall Beard, chief strategy officer at U.S.-headquartered cryptocurrency exchange Gemini, said $100,000 could be a possibility for bitcoin.

“I think bitcoin probably breaks all-time highs this year,” Beard said, adding that the $100,000 price figure is an “interesting number.”

Beard said that if bitcoin gets to its previous record high of near $69,000, “it doesn’t take much more for it to lift up” to $100,000.

Bitcoin would need to rally around 270% to hit $100,000.

Paolo Ardoino, chief technology officer at stablecoin issuer Tether, said bitcoin could “retest” its all-time high near $69,000.

The predictions of new record highs mark a more optimistic outlook than in January when industry executives told CNBC that they expected 2023 to be a year of caution.

Hal Finney predicted that bitcoin could become the global dominant payment system at $10 million per coin (Finney’s calculation would be closer to $40 million today), so it’s not too late to start using bitcoin.

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