CEO of Swiss bank Seba: Bitcoin could rise to $ 75,000 this year

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The price of Bitcoin could rise to $ 75,000 this year as more institutional investors begin to accept the world’s most popular cryptocurrency, according to the CEO of Swiss bank Seba.

“We believe the price will go up,” Guido Buehler told CNBC today at the Crypto Finance Conference in Switzerland.

“Our in-house models are priced between $ 50,000 and $ 75,000. I’m pretty sure we’ll see that level,” Buehler said.

It is recalled that after “jumping” to the record of 69,000 dollars in November, Bitcoin fell in the last two months with its price falling slightly below $ 40,000 on Monday, which means that it is moving close to low levels that can be seen from in September.

Asked if Bitcoin would test the record levels it saw last year, Buehler said he “believes it”, but stressed that volatility would remain high.

The fall in prices this week came as the rise in US bonds and the prospect of higher interest rates from the Fed pushed investors away from risky assets. It is noted that the yield on the 10-year US bond increased in early 2022, “reaching” 1.8% on Monday, having closed 2021 at 1.5%.

It should also be noted that Bitcoin fell up 6% on Monday and reached a low of $ 39,771.91, according to Coin Metrics. At this time, according to investing.com, Bitcoin has gained 2.68% in the last 24 hours and is moving at 42,974.7 dollars.

Buehler expressed the belief that institutional investors will help boost the price of Bitcoin in 2022. “Funds from institutional investors will most likely push the price up,” he said.

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