Adam Back Expects Bitcoin to Reach $100,000 by Year-End Despite Recent Dip

Recovery of Digital Asset Market Depends on Actions of US Federal Reserve, Says Galaxy Digital CEO

The founder of the Binance cryptocurrency exchange, Changpeng Zhao, suggested that institutions pay attention to cryptocurrencies. 

Former Goldman Sachs executive Raoul Pal said that for him the $ 20,000 ETH price "looks quite reasonable." 

American entrepreneur Elon Musk said that Tesla will resume accepting payments in Bitcoins after miners switch to using energy from renewable sources. 

American businessman, billionaire and investor David Rubenstein believes that cryptocurrencies will remain in the financial market for a long time, as will gold. During the Squawk Box program on CNBC, Rubenstein revealed that he himself did not personally buy cryptocurrencies directly. 

In the monthly issue of the digest on the cryptocurrency market, Bloomberg analyst Mike McGlone said that within 5 years the Bitcoin rate could exceed $ 100,000.

Binance CEO Changpeng Zhao shared his secrets of success and identified four factors for the effective expansion of cryptocurrency exchanges around the world.

According to logarithmic analysis by analyst Benjamin Cowen, by 2023, the capitalization of the cryptocurrency market could exceed $ 11 trillion.

Well-known cryptocurrency enthusiast Tom Lee expressed the opinion that the return of Bitcoin to $8,000 after falling to $ 6,400 is a clear sign of the end of a "cryptocurrency winter".