Bitcoin (BTC)Crypto News

Bitcoin could reach a new all-time high in up to 2 years

                                                            Changpeng Zhao – CEO der weltgrößten Crypto-Börse Binance – glaubt, dass Bitcoin zwischen einigen Monaten und zwei Jahren brauchen wird, um seinen aktuellen ATH von fast 70.000 Dollar zu erreichen.  Er sagte auch voraus, dass die großen Cryptowährungsprojekte den Bärenmarkt überleben werden, während kleine in Schwierigkeiten geraten könnten.

Price fluctuations are normal

Changpeng Zhao (known as CZ) has often advised investors in previous crypto market crashes. In a recent interview for The Guardian, he did it again, explaining that the industry is relatively new so expect significant price volatility.

People may consider Bitcoin’s price of $20,000 to be a “very low” level, but if they follow the asset’s performance over the years, they will see that it has made significant strides:

“But you know, if you told people in 2018, 2019 that bitcoin will be 20,000 in 2022, they would be very happy. In 2018/19 Bitcoin was $3,000, $6,000.”

CZ is also optimistic that BTC will match and even surpass its all-time high of over $69,000 registered last November. However, it can take up to two years for this to happen:

“I think given that price drop from the all-time high of 69k to now 20k, it’s probably going to be a while before we get back there. It will probably take a few months or a few years. Nobody can predict the future.”
Bitcoin could reach a new all-time high in up to 2 years, Crypto Trading NewsChangpeng Zhao, Binance
Subsequently, the Binance CEO argued that the ongoing crypto winter could be a problem for the smaller projects that have joined the ecosystem during the recent bull market. On the contrary, larger companies that have been part of the industry for years will survive the crisis.

He assured that his exchange has the capital and expertise to solve the problems. Unlike many other platforms like Coinbase and CryptoCom, which have announced they are laying off employees, Binance is expanding its team.

CZ: the ultimate crypto supporter

Earlier this month, Zhao (who is considered one of the richest people in the world) said he views digital assets as both an investment vehicle and a medium of exchange. As such, he revealed that he owns no fiat currencies and puts all of his wealth into crypto:

“I don’t have any dollars for me. All I have is in Cryptos. So if I have money to spend, I have to spend some of it somewhere. For me, I’m all into cryptos. I don’t have to think about selling crypto. Crypto is my money.”

The CEO further praised the asset class for enabling faster and cheaper cross-border payments than fiat. Bitcoin and the altcoins are also a good alternative when it comes to donations, he added.

Featured image courtesy of Bloomberg Linea

Source: Crypto News Deutsch

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