Galaxy Digital executive year-end Bitcoin prediction is $70,000

Bitcoin

Jason Urban, executive of crypto investment firm Galaxy Digital, stated that he thinks the price of Bitcoin correction will decrease towards the end of the year and the price will be around $ 70,000.

Stating that the recent increase in corporate company investments will show its effect even more after the summer months, Urban said that he thinks ATH will also be passed:

“Toward the end of the year, this year’s ATH will be exceeded. Fear and uncertainty in recent weeks will subside over the summer and the price will settle a bit more. I think that corporate adoption will show itself even more after the fall. We can see a price of around 70 thousand dollars”

“Recent volatility movements are not for institutional reasons”

Stating that the latest downward movements came mostly from the small investor, not from the institutional environment, Urban said that if Bitcoin experiences another decline, the $ 25 thousand region will be the support level, but the fact that the largest cryptocurrency holds above $ 30 thousand is a sign of confidence in the future of Bitcoin. He added that it is.

Galaxy Digital executive thinks regulation is necessary for Bitcoin

Stating that it is important to come and talk about regulations for Bitcoin and cryptocurrencies, since many asset classes have investment rules, Galaxy Digital manager said:

“Bitcoin has started to appear in the portfolios of many investors. That’s why I think regulations are necessary. However, I do not agree with those who give reasons to ban the use of Bitcoin for illegal activities.

Bitcoin, which hung below $ 30 thousand at the beginning of the week, then rose again and approached the limit of $ 35 thousand. At the time the news was written, it was traded at 33 thousand dollars.

SEE ALSO; US Economist Steve Hanke: It is stupid to consider Bitcoin legal currency

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