Bitcoin will cross the $90,000 mark by the end of 2024.

These comments come from Yuri Pripachkin, president of the Russian Association of Cryptocurrency and Blockchain (RACIB).

'Bitcoin 90k' - Russian Expert Explains Predictions

Pripachkin said that BTC prices will continue to rise. By the end of December 2024, the price will reach the $90,000 ceiling, he added.

The RACIB president claimed that investment tokens, including BTC, will continue to increase in the coming weeks and months.

Pripachkin added that adoption would "continue" and that BTC would attract new converts "in the coming months". He said:

"Bitcoin is getting more and more expensive and people believe in it. It has become an alternative to existing financial instruments. Bitcoin will break its previous record of $69,000 in the next two to three months."

Bitcoin reached an all-time high of $68,982.20 on November 10, 2021, at the peak of the last crypto bull market.
Russian Expert: No Limit to Bitcoin's Growth

Other Russian experts claim that circumstances may force the price of Bitcoin to rise further. These experts include financial analyst Mikhail Belyaev, who told Lenta.ru that the much-hyped $100,000 mark is now within reach. He said:

"It's not even a fantasy. But it won't happen today or tomorrow. Certain circumstances have to occur [for BTC to reach $100,000]. Perhaps those circumstances could involve a deterioration in the world situation or a threat to the geopolitical status quo."

However, the economist is skeptical of the currency, claiming that Bitcoin has been able to grow because “there is no limit to human stupidity and greed.”

Belief in Bitcoin is Key to Growth, Financial Expert Says

According to Belyov, as long as a certain number of people believe in Bitcoin and sell it to each other, the price of Bitcoin can "grow to any extent.

In this case, Belyov suggests it would be relatively easy for Bitcoin to break $90,000 or more.

All these people, he said, are trading the currency "hoping to get rich one day." He adds:

"Bitcoin is based solely on people's blind belief that it is a store of wealth. On the one hand, that's its weakness and vulnerability. On the other hand, this is also its strength, because belief is indestructible."

Belyov also said that people who buy Bitcoin or mine it at a certain price are "not willing to accept losses." He said:

"People like that are happy to hold Bitcoin for a long time."

In 2023, Pripachkin visited Iran, where he claimed that Tehran and Moscow had discussed conducting cryptocurrency-driven trade.

However, according to the RACIB chief, Moscow is taking a big risk by potentially regulating the emerging country's cryptocurrency sector.

The measures taken by the Russian government will lead to a mass exodus of high-tech companies from the country, according to Pripachkin.