Bitbull Capital CEO Joe DiPasquale believes that Bitcoin (BTC) is still on track to reach $ 100,000 over the next 24 months despite the downward trend that has gripped the cryptocurrency markets since the beginning of the year. “I think 2023 is a win-win. In 2022, we may need some time to catch our breath and blow off the steam, DiPasquale said.

“We have made higher lows and even higher highs,” he added, commenting on bitcoin’s price movement in recent months.

After the start of the military conflict between Russia and Ukraine, bitcoin showed a mixed reaction, first collapsing with stocks, but then sharply returning. Many people wonder if bitcoin can still be considered a digital version of gold.

“We need to see bitcoin, probably not as digital gold, but as a currency that does not follow the whims of the central bank, but rather in a very limited amount,” DiPasquale noted.

On both sides of the conflict, people are using cryptocurrencies to mitigate the effects of financial turmoil.

Fears are growing that the Russian elite will try to use cryptocurrencies to circumvent sanctions from the West. Like many other analysts in recent weeks, DiPasquale believes that encryption is not suitable for this purpose.

“Bitcoin, unlike cash, is completely traceable,” he said.

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Source: CoinTelegraph