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The former CEO of the world’s largest cryptocurrency exchange expects Bitcoin to rise above the $100,000 mark.
Former Binance CEO Changpeng Zhao believes that the first cryptocurrency is capable of hitting a price peak, following its brief recovery to $100,000 on Tuesday.
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A “boring” standard?
Bitcoin welcomed the new year on a positive note as the crypto recorded a recovery that took it to the $100,000 mark.
Zhao, who is also the founder of Binance, suggested that the top crypto asset could do better and surpass the price of $100k.
“100k is boring, isn’t it?” Zhao said in a post, responding to Bitcoin’s return.
Investors saw Bitcoin regain its lost glory after hitting $100,000 after the digital asset dropped to a key level on December 19, staying below $100,000 for a long time before gaining momentum to push it further to this historic level.
100k is boring, right?
– CZ 🔶 BNB (@cz_binance) January 7, 2025
Bitcoin Is Destined To Reach New Highs
Zhao, popularly known as CZ, asserted that Bitcoin is very capable of reaching a price above $100k. Therefore, the former boss of the crypto firm was not surprised that BTC came back and increased in the last 24 hours.
Binance’s former CEO’s post on X sparked excitement among members of the cryptocurrency community as Zhao’s post suggested BTC prices could rise.
Last month, Bitwise CEO Matt Hougan predicted that the cryptocurrency’s bullish trend will continue until 2025. Hougan expects that other top crypto assets will rise in price like the leading Bitcoin.
Hougan believes that BTC can reach as high as $200,000 before the end of 2025, saying that the income from the Bitcoin ETF can fuel the demand of the companies. This, in turn, will increase their exposure to the premier crypto asset.
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The Good Feeling Continues
Zhao is optimistic about cryptocurrencies, saying that 2025 will be the “shipping year” for digital assets. According to analysts, the word ‘send’ is used when there is excitement around cryptos which is brought about by rising prices.
If you ever wondered why people tweet 4, it appears in this tweet 2 years ago today. In retrospect, I should have made the “4” the “0”th point. 😂
2025 will be the year of “shipping”.
– CZ 🔶 BNB (@cz_binance) January 3, 2025
Some market analysts agree that digital assets will face a price increase in 2025, which will be driven by the adoption of crypto by institutional investors and national governments.
Although the former CEO of Binance believes that Bitcoin is going past $100,000, Zhao did not give a price prediction for the year. However, there were times when Zhao revealed that Bitcoin could be sold for $850,000 per coin.
Featured image from Getty Images, chart from TradingView