You can check the website statistics yourself or request them from us at [email protected]
On this platform, only organic high-quality traffic
Bitcoin
$ 30,725

Bitcoin to Hit 90k Before End of 2024, Says Russian Crypto Industry Chief

Yuri Pripachkin, the President of the Russian Association of Cryptocurrency and Blockchain (RACIB), asserted this week that Bitcoin is poised to reach the $90,000 milestone by the conclusion of 2024, as reported by CoinSpot, a Russian-language media outlet.

‘Bitcoin to Hit 90k’ – Russian Expert Explains Prediction

Pripachkin emphasized that Bitcoin’s upward trajectory will persist, with prices projected to surge to a peak of $90,000 by the end of December 2024. According to the RACIB President, the influx of investment in various tokens, including BTC, will continue to escalate in the foreseeable future.

He further noted that the momentum of adoption will endure, anticipating a steady influx of new enthusiasts in the upcoming months. Pripachkin stated, “Bitcoin’s increasing value is instilling confidence among investors, positioning it as a viable alternative to conventional financial instruments. Within the next two to three months, Bitcoin is expected to surpass its previous record of $69,000.”

Bitcoin reached its pinnacle price of $68,982.20 on November 10, 2021, during the peak of the preceding cryptocurrency bull market.

Russian Expert: ‘There Is No Limit to Bitcoin’s Growth’

Other Russian experts echoed the sentiment, suggesting that external factors could propel Bitcoin prices even higher. Financial analyst Mikhail Belyaev, speaking to Lenta.ru, asserted that the long-discussed $100,000 threshold was now a tangible possibility.

Belyaev stated, “This isn’t merely a fantasy. However, it won’t occur overnight. For BTC to surpass $100,000, specific circumstances must arise. These could potentially involve global unrest or challenges to the existing geopolitical landscape.”

Despite acknowledging Bitcoin’s potential for growth, the economist expressed skepticism, attributing its rise to what he deemed as “unbounded human folly and greed.”

Belief in Bitcoin Key to Growth, Financial Expert Says

Belyaev expressed the view that Bitcoin prices could soar unchecked as long as there exists a critical mass of believers who continue to buy and sell it among themselves.

In such a scenario, Belyaev suggested that reaching $90,000 or even surpassing it would be relatively straightforward. He noted that all participants in the market were essentially engaging in transactions with the expectation of future wealth accumulation.

“Bitcoin’s value,” he remarked, “rests solely on the blind faith of individuals regarding its status as a store of wealth. While this makes it vulnerable, it also serves as its strength, as faith itself is unwavering.”

Belyaev further emphasized that individuals who acquired Bitcoin either through purchase or mining at a specific price point are unwilling to incur losses on their investment. He remarked, “Such individuals are content to hold onto Bitcoin for the long haul.”

In 2023, Pripachkin made a visit to Iran, during which he asserted that Tehran and Moscow had deliberated on the prospect of conducting trade facilitated by cryptocurrencies.

Despite this, the head of RACIB cautioned that Moscow stands to risk a great deal by potentially regulating its rapidly growing domestic crypto industry. Pripachkin warned that the regulatory measures proposed by Russian authorities could prompt a mass departure of high-tech businesses from the country.

Related Posts

Leave a Reply

Confirm now and stay with our news

What we write about

I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

Latest Articles

OKX and Polygon Collaborate to Launch X Layer Public Mainnet
16.04.2024By
Curve Founder Nearly Liquidated During Weekend Crypto Crash
16.04.2024By
Ethereum Suffers Most Hacks Among Blockchains in 2024
16.04.2024By

Latest news

OKX and Polygon Collaborate to Launch X Layer Public Mainnet
16.04.2024
Curve Founder Nearly Liquidated During Weekend Crypto Crash
16.04.2024
Ethereum Suffers Most Hacks Among Blockchains in 2024
16.04.2024
BlackRock’s Bitcoin ETF Sees $73M in Inflows as Other Funds Remain Stagnant
16.04.2024
Reserve Bank of Fiji Says Crypto Not Recognised as Legal Tender
16.04.2024
Winklevoss Twins Invest $4.5M in Crypto Podcaster Peter McCormack’s Football Club
15.04.2024
Investor Caution Persists as Digital Asset Investment Products See $126M in Outflows
15.04.2024
Bitcoin Shows Resilience Compared to Broader Crypto Market Despite Sell-Off: Fineqia
15.04.2024
DeFi-Focused Berachain Raises $100M in Funding Round Led by Brevan Howard Digital
15.04.2024
Hong Kong SFC Approves Spot Bitcoin and Ethereum ETFs as Market Rebounds
15.04.2024