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The leader of a Russian cryptocurrency organization asserted this week that Bitcoin will reach the $90,000 milestone before the conclusion of 2024.
The remarks were made by Yuri Pripachkin, President of the Russian Association of Cryptocurrency and Blockchain (RACIB), as reported by the Russian-language news source CoinSpot.
‘Bitcoin to Reach 90k’ – Russian Specialist Elaborates on Forecast
Pripachkin indicated that BTC values are set to keep increasing. He mentioned that prices would peak at $90,000 by the end of December 2024.
The RACIB President stated that the “level of investment” in cryptocurrencies, including BTC, would keep rising in the upcoming weeks and months.
He further noted that adoption would “persist,” and that BTC would draw in new supporters “in the upcoming months.” He remarked:
“Bitcoin is growing more valuable, and people are placing their trust in it. It has emerged as an alternative to traditional financial tools. Bitcoin will surpass its previous peak of $69,000 in the next two to three months.”
Bitcoin reached its all-time high of $68,982.20 on November 10, 2021, at the peak of the previous cryptocurrency bull market.
Russian Specialist: ‘There Is No Ceiling to Bitcoin’s Ascendancy’
Other Russian analysts suggested that conditions could drive Bitcoin prices even higher. Mikhail Belyaev, a financial analyst, informed Lenta.ru that the much-discussed $100,000 threshold is now attainable. He stated:
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“This is not merely a fantasy. However, this will not happen today or tomorrow. [For BTC to reach 4100k,] certain circumstances would need to unfold. Perhaps these could be related to a worsening situation globally or challenges to the geopolitical status quo.”
Nonetheless, the economist expressed doubt about the cryptocurrency, asserting that BTC was capable of rising due to “the limitless nature of human folly and greed.”
Faith in Bitcoin Essential for Growth, Financial Analyst Suggests
Belyaev commented that Bitcoin prices can “escalate as much as possible, provided there remains a substantial number of individuals who have faith in it and trade it among themselves.”
For Bitcoin to reach $90,000 or higher under such conditions would be relatively straightforward, according to Belyaev.
He remarked that all of these participants were trading the coin “with the hope of becoming wealthy someday.” He added:
“Bitcoin relies on nothing except for people’s unwavering belief that it serves as a store of wealth. This is both its vulnerability and its strength, as faith is unyielding.”
Belyaev noted that individuals who purchased BTC or mined it “at a certain price are not willing to incur losses on it.” He expressed:
“Such individuals are eager to hold onto Bitcoin over the long haul.”
In 2023, Pripachkin traveled to Iran, where he claimed that discussions were held between Tehran and Moscow regarding crypto-based trade.
According to the RACIB head, however, Moscow is taking significant risks by possibly regulating the emerging national cryptocurrency sector.
Pripachkin mentioned that the initiatives implemented by Russian authorities could result in a migration of high-tech enterprises from the country.
The post Bitcoin to Hit 90k Before End of 2024, Says Russian Crypto Industry Chief appeared first on Cryptonews.
