Bitcoin has seen a major drop off. But a bank CEO predicts it will rise again
Bitcoin could see such a big rise that it breaks previous records.
What happened: Bitcoin, one of the most valuable and popular cryptocurrencies, has seen a major drop-off in recent weeks, falling to below $40,000, per Fortune. This is after the crypto coin spent multiple months around $60,000 value per coin.
Yes, but: Bitcoin could soon double in value to reach $75,000 per coin as more people embrace it, Guido Buehler, the CEO of Swiss bank Seba, told CNBC.
Why it matters: Cryptocurrency has been considered a volatile investment because the value spikes and dips rapidly. Bitcoin is clearly not immune from this.
The bigger picture: Bitcoin wasn’t the only cryptocurrency to drop. Others such as Ethereum and Solana fell off as well, as I reported for the Deseret news.
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