Shopin CEO Eran Eyal is confident Bitcoin (TIKER: BTC.EXANTE) price will skyrocket to $100,000 and beyond as the cryptocurrency market expands.
Speaking on CNBC, Mr Eyal said: “I have no doubt that Bitcoin is going to reach well-beyond $100,000. Have a look at how it has climbed over the past."
Eran Eyal said it is important not to just look at it at this moment in time but also to look at it historically at what has happened around the world.
“I mean, look in the United States, bitcoin exchanges were shut down three times. What we are seeing here is really government’s taking a knee and taking a moment to understand the ramifications for their specific culture,” he said.
Mr Eyal said each cryptocurrency has its own “business model” to differentiate from one another and added that Bitcoin should be separated from other types of cryptocurrencies such as Ethereum or Ripple.
He said it is “impossible” to look at Bitcoin and Ethereum (TIKER:ETH/USD.BITFINEX) and compare one to the other because “they are not both apples”.
Bitcoin price dipped below $11,000 on Monday, January 22, according to CoinMarketCap. It saw its highest value before Christmas when it reached the monumental price of just under $20,000.