Bitcoin is still on course to exceed the $100,000 mark, in spite of its recent price decline, according to the CEO of the eToro investment platform.

During an interview, Yoni Assia said that the world’s largest cryptocurrency by market cap will likely start to gather bullish momentum towards the end of 2023.

Furthermore, the CEO said that Bitcoin will more than likely reach a new record high by the end of next year, Crypto News reports.

“At the end of 2024 is when you start [seeing rallies], and you start gradually seeing something going to $50,000 and then back to $40,000, [then] to $70,000… Only when it reaches all-time highs, which is somewhere probably at the end of next year, only when it reaches all-time highs… that’s when retail [investors] come back,” he commented.

In addition, Assia also focused on Bitcoin’s halving cycles. He said the number one crypto typically sees robust surges a year after a halving event, and the current cycle should be no different.

“In theory, the bull run should actually be in 2025. The same as it was in 2021, 2017 and 2013. That’s the cycle. Now, there’s a very famous saying, ‘History does not repeat itself, but it sure damn rhymes.’ So, I would be surprised if we don’t see a rally in 2025. I’d be surprised if we don’t see, by the end of 2025, Bitcoin above at least $100,000,” he went on to say.

The upcoming Bitcoin halving – which cuts BTC miners’ rewards in half – is scheduled for April next year, the Crypto News report adds.

Bitcoin is trading at $25,145 at the time of writing, a 2% drop in the past 24 hours.