Binance CEO Changpeng Zhao: “The Return Will Take Time”
Changpeng Zhao, the founder of leading cryptocurrency exchange Binance, recorded statements about Bitcoin (BTC). Zhao stated that it will not be possible for Bitcoin to rise above the peak level of $68 thousand yet, and it will be at a level below $68 thousand for the next two years.
Changpeng Zhao noted that it is still early for positive returns from crypto giant Bitcoin. Speaking to The Guardian, Zhao evaluated Bitcoin’s all-time high. The successful businessman emphasized that no one can fully know the future of Bitcoin. Expressing that the next all-time high could take up to two years, Zhao 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 $20k. It will probably take a few months or a few years.”
The famous CEO evaluated the next step with the following statements;
“It is not entirely clear when the next Bitcoin all-time high will be. However, analysts are making strong predictions about what the peak could be. Many believe that the coin will be traded around $420,000.”
Proof of Steve, a crypto investor, made the same point:
“As Bitcoin has reached $69k, 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 said, “BTC peak was at $69k. The next cycle peak will obviously be $420k,” he said. Bitcoin and other cryptocurrencies have been affected by various 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, an increase of 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.