Seba Bank CEO Guido Buehler told CNBC that bitcoin’s price could rise to between $50,000 and $75,000 in 2022.
on Monday, meaning it is hovering near lows not seen since September.
This week's price fall came as rising Treasury yields — and the prospect of higher central bank interest rates — continued to lead investors to shed positions in risky, growth-oriented assets. Declines across the cryptocurrency market follow a week of rough trading for equities, particularly momentum stocks. As the 10-year U.S. Treasury yield spiked at the start of 2022, investors have been rotating into more cyclical and value names. On Monday, the 10-year climbed as high as 1.8%, after ending 2021 at 1.5%.said Noelle Acheson, head of market insights at Genesis.
"Institutional money will probably drive the price up," he said."We are working as a fully regulated bank. We have asset pools that are looking for the right times to invest."