Bitcoin: According to the CEO of the world’s largest cryptocurrency exchange, Bitcoin could remain below its historic high of $69,000 for the next two years after the latest crypto market crash. Here are the details…
- 1 Binance CEO: BTC may take time to bounce back
- 2 At what levels is the next Bitcoin peak?
- 3 Share this:
Binance CEO: BTC may take time to bounce back
Binance CEO Changpeng Zhao believes that the cryptocurrency industry is still growing despite the recent volatility. He also said that the next Bitcoin all-time high could come sometime later. However, he said that some companies that are established at the top of the market may have tough times ahead. Speaking to The Guardian, Zhao made some interesting comments about Bitcoin’s next formation to an all-time high. The CEO also warned that no one can predict the future of Bitcoin. He noted that the next all-time high could take up to two years. The CEO used the following statements:
I think it will probably take some time for it to bounce back, given this price drop from an all-time high of $68k to $20,000. It will probably take a few months or a few years.
Zhao thinks the current Bitcoin price is not bad at all. But he acknowledged that the $20,000 range is relatively low. Still, he explained that in 2018 or 2019, people would be very happy if they were told that Bitcoin could reach $20,000 by 2022.
At what levels is the next Bitcoin peak?
While it’s not entirely clear when the next Bitcoin’s all-time high will be, analysts are making strong predictions about what the top might be. Many believe the coin could be around $420,000. Steve, a crypto investor, said the same thing.
With Bitcoin reaching $69,000, it is clear to me that the next target could only be $420,000. There is no in between. There will be no smoke if there is no fire.
Another crypto enthusiast, DrNick, wondered if the next peak would be around $4.20,000. Similarly, another enthusiast Rssi predicted a Bitcoin peak of $420k based on the top of $69k. “BTC peak was at $69k. The next cycle peak will obviously be $420k,” he said. AmkNews.com As we reported, Bitcoin and other cryptocurrencies have been impacted by a variety of factors following stock market declines and interest rate hikes by central banks associated with rising inflation. At the time of writing, BTC is changing hands at $20,589, up 1.7 percent. Cryptocurrency fell 8.6 percent in 7 days. Meanwhile, Ethereum (ETH) is changing hands at $1,100 with an increase of 1.7 percent.
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