Bitcoin remains on track to hit $100K by 2023, says Bitbull Capital CEO\sJoe DiPasquale, CEO of Bitbull Capital, examined the importance of Bitcoin in the Ukraine conflict and outlined his bullish stance on the crypto markets for the future months.
Bitbull Capital CEO Joe DiPasquale feels Bitcoin (BTC) is still on track to hit $100 thousand during the next 24 months despite the gloomy attitude dominating the crypto markets since the start of the year. “I think 2023 is a safe bet. We might need some time during 2022 to take a breath and to kind of let off some of the steam,” DiPasquale added.
“We are reaching higher lows and even higher highs”, he remarked, remarking on Bitcoin’s price trajectory in the last few months.
Following the outbreak of a military conflict between Russia and Ukraine, Bitcoin has showed mixed reaction, falling down with equities at first, but then significantly rebounding. Many were asking whether BTC could still be viewed as digital form of gold.
“We need to understand Bitcoin as not maybe digital gold, but as a currency that doesn’t follow the whims of a central bank, but rather has a very finite quantity,” pointed out DiPasquale.
On both sides of the war, individuals are utilising cryptocurrencies to minimise the effects of the financial instability.
There are rising concerns that the Russian elite would attempt to use cryptocurrencies to avoid the sanctions imposed by the West. Like many other analysts in the past weeks, DiPasquale feels crypto is not fit for that purpose.
“Bitcoin, unlike cash, is totally traceable,” he remarked.
