CEO of investment platform eToro, Bitcoin He believes that (BTC) is still on track to explode above $100,000 despite the recent price drop.
Crypto In a new interview with trader Scott Melker, Yoni Assia says BTC will likely start gaining upward momentum towards the end of the year.
According to EToro executive, Bitcoin will likely reach an all-time high by the end of 2024.
When you start to see rallies at the end of 2024 and slowly going to $50,000 and then to $40,000, then to $70,000… But once it reaches all-time highs, which is probably somewhere around the end of next year, but once it reaches all-time highs …that’s when retail investors come back.”
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Assia also looks at Bitcoin’s halving cycles. eToro CEO says BTC tends to witness strong fluctuations a year after the halving and the current cycle should be no different.
“Theoretically, the bull run should actually happen in 2025. Just like in 2021, 2017 and 2013. This is the cycle. There is a very famous saying: ‘History doesn’t repeat itself, but it sure rhymes’. So I would be surprised if we don’t see a rally in 2025. “I would be very surprised if we don’t see BTC at least above $100,000 by the end of 2025.”
The Bitcoin halving, which halves BTC miners’ rewards, is scheduled to take place in April 2024.
Koinfinans.com As we reported, Bitcoin is trading at $25,145 at the time of writing this news.