Eran Eyal: I have no doubt that Bitcoin will go beyond $100,000

As reported by CCN, Eran Eyal, CEO of distributed marketplace Shopin, when asked if the price of Bitcoin will rise above $20,000, said, “I have no doubt that Bitcoin will go far beyond $100,000.”

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Eyal did not give a specific timeline for when Bitcoin will exceed $100,000, but cited some historical facts and data to back up his claim.. Eyal stated that Ethereum was trading at $245 around September, but currently at $957.

Eyal said the price drops are due to pressure from the Chinese and South Korean governments on cryptocurrencies.. Eyal also pointed out that Bitcoin exchanges in the USA have been closed three times in the past.. This is a sign that Bitcoin always finds a way out of events that result in price drops.

It will gain momentum once the threats subside

Cryptocurrency market is a very young market with an uptrend. Eyal believes that Bitcoin will not crash but will stabilize and gain momentum once the threats of shutdown have subsided.

Eyal calls Bitcoin “a store of value like gold”.

Ethereum also Referring to Eyal, Ethereum is different, saying that the value of Ethereum depends on the use of cryptocurrencies built on it.