Bitcoin May Remain Below Its Recent Top Of $69,000 For 2 Years, Says Binance CEO
Bitcoin May Remain Below Its Recent Top Of $69,000 For 2 Years
Recently, the CEO of Binance, the largest cryptocurrency exchange in the world by trading volume, discussed when we might expect seeing Bitcoin return to its former all-time high of $69,000.
The Guardian reported that Changpeng Zhao stated in a recent interview that it could take some time for Bitcoin to return to its prior all-time high price.
If they had been informed four years ago that Bitcoin would sell for $20,000 in 2022, the majority of cryptocurrency investors would have been “very happy,” according to CZ.
“I think given this price drop, from the all-time high of 68k to 20k now, it will probably take a while to get back. It probably will take a few months or a couple of years,” he told the Guardian.
Although CZ cautioned that “no one can predict the future,” he did point out that Bitcoin’s price has increased significantly from just 2019—when it was under $10K—to $20K. According to CZ, the fact that Bitcoin’s price has risen from its low point to its prior high point is proof that the industry is “definitely growing.”
While referring to price changes as “normal,” he did not necessarily state that the volatility of cryptocurrencies will become the norm over time.
Since November 2021, the market valuation of the leading cryptocurrency has dropped sharply, according to CZ, and this has put some projects in a “bind.” He did, nonetheless, claim that Binance was “fine” and that the firm was still growing and recruiting.
“We talk with all regulators around the world. They send us questions, we answer them, with an investigation or not,” Binance CEO said.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Hazel
CoinCu News
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Bitcoin May Remain Below Its Recent Top Of $69,000 For 2 Years
Recently, the CEO of Binance, the largest cryptocurrency exchange in the world by trading volume, discussed when we might expect seeing Bitcoin return to its former all-time high of $69,000.
The Guardian reported that Changpeng Zhao stated in a recent interview that it could take some time for Bitcoin to return to its prior all-time high price.
If they had been informed four years ago that Bitcoin would sell for $20,000 in 2022, the majority of cryptocurrency investors would have been “very happy,” according to CZ.
“I think given this price drop, from the all-time high of 68k to 20k now, it will probably take a while to get back. It probably will take a few months or a couple of years,” he told the Guardian.
Although CZ cautioned that “no one can predict the future,” he did point out that Bitcoin’s price has increased significantly from just 2019—when it was under $10K—to $20K. According to CZ, the fact that Bitcoin’s price has risen from its low point to its prior high point is proof that the industry is “definitely growing.”
While referring to price changes as “normal,” he did not necessarily state that the volatility of cryptocurrencies will become the norm over time.
Since November 2021, the market valuation of the leading cryptocurrency has dropped sharply, according to CZ, and this has put some projects in a “bind.” He did, nonetheless, claim that Binance was “fine” and that the firm was still growing and recruiting.
“We talk with all regulators around the world. They send us questions, we answer them, with an investigation or not,” Binance CEO said.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Hazel
CoinCu News
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