Bitcoin price hits new all-time highs today, here's where it's headed next
CEO of CoinSmart, a crypto exchange based in Canada, said that this rally is just the beginning, citing banks' target projections of upwards of $400,000 a coin.
"We're so early in this market, it's still in the first half of the first inning and what's different now that in 2017, 2018 is we're seeing a lot of large institutions come into this. Just today we're seeing Coinbase, one of the largest exchanges in the world going IPO any minute now while we're talking," Hartzman told David Lin, anchor for Kitco News.
Just before the Coinbase direct listing and as BTC has touched a new ATH, a great number of investors and crypto executives are very positive. “Bitcoin has been continuously moving out of its niche, that’s no secret,” Eric Demuth, Co-CEO and founder of Bitpanda explained to Bitcoin.com News. “Whether it is its greater coverage in mainstream media, or the adoption of Bitcoin trading infrastructures by major banks such as JPM or Goldman Sachs. The decisive step was probably the first investments made by S&P 500 companies.”
Additionally, many others are quite optimistic about the market movements and BTC’s latest ATH. Dan Morehead, the CEO of Pantera Capital explained that his firm predicted these prices.
“This is getting ridiculous. A year ago we predicted Bitcoin hitting $62,968 this week. It just did. This Bitcoin rally is EXACTLY like previous halvings. Likely to reach $115k by August,” Morehead tweeted. The company also published the firm’s April 2020 Investor Letter which shows the firm’s prediction.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.