Despite Bitcoin’s price decline since November 2021, the digital asset is still on track to hit $100,000 per coin, according to the CEO of Bitbull Capital.
Joe DiPasquale, CEO of Bitbull Capital, which manages cryptocurrency hedge funds, sat down with Cointelegraph for an interview where he discussed the market impacts of Russia’s war with Ukraine, if Bitcoin was defined as digital gold, and what could happen throughout the market in 2022 leading into 2023.
According to DiPasquale, Bitcoin is still seen as a hedge against global uncertainty and inflation, which directly correlates to Russians and Ukrainians withdrawing their money from traditional banking systems to store their value in Bitcoin instead. DiPasquale focused on the final months of Bitcoin’s price movement, saying: “We hit higher lows and higher highs“. Add, “This volatility is also still, this low is still above its summer low. Yes, it’s volatile, but yes, it’s also rising over the course of the year.“
The CEO of Bitbull also stated that Bitcoin is still on track to reach $100,000 per coin throughout 2023.
“I think 2023 is a safe bet. We may need time in 2022 to catch our breath and let off some steam,“said DiPasquale.