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Swiss bank Seba predicts that Bitcoin can hit the $75k price mark this year. The firm’s CEO further added that institutional investment in the flagship currency will drive the price up.
The flagship currency is in the driver seat of the crypto economy. If BTC goes up the whole market stabilizes and also goes down with the coin. Currently, BTC is exchanging hands at a $43k price level. The whole market seems to be recovering from the last week’s bearishness. BTC has performed very well in the last year and many people are trying to predict where BTC will get in this year. CEO of a Swiss Bank Seba has tried to predict the price of the coin.
Bitcoin can hit the $75k price mark this year:
CEO of Seba has predicted that Bitcoin can hit the $75 price level due to the institutional investment in the coin. Guido Buehler shared his bank’s prediction on where the price of bitcoin is heading with CNBC at the Crypto Finance Conference in St. Moritz, Switzerland, on Wednesday. Seba Bank is a digital assets banking platform licensed by the Swiss Financial Market Supervisory Authority (FINMA). He further explained:
We believe the price is going up. Our internal valuation model indicates a price right now between $50,000 and $75,000.
The CEO explained that Bitcoin can hit this level and I am quite confident about it. Seba’s boss also said that volatility will also remain high. The institutional investors will be playing a key role in this journey of BTC. We are working as a fully regulated bank at Seba. We have asset pools that are looking for the right time to invest.
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