Despite recent volatility, according to Binance CEO Changpeng Zhao, the cryptocurrency market is still growing. He added that the Bitcoin record could happen in the future. He warned that some established businesses in the heyday of the market will face challenges in the future.
In an interview with The Guardian, Zhao made some intriguing comments about the possibility of another Bitcoin record. Bitcoin’s next all-time high could be up to two years away, according to the CEO, who also warned that no one can predict the future of the coin.
“I think given this price drop, from the all-time high of 68k to 20k now, it will probably take a while to come back. It will probably take a few months or a couple of years.”
Zhao acknowledged that the $20,000 range is relatively low, but felt that the current price of Bitcoin is not that horrible. However, he added, if someone had told them in 2018 or 2019 that Bitcoin could hit $20,000 in 2022, they would have rejoiced.
Will BTC price hit $420k?
Although the exact date of the next Bitcoin record is unknown, many are making confident projections as to when it might happen. Many others think it could be around $420,000. Steve test said,
“Given that Bitcoin broke above $69,000, it is clear to me that the next target can only be $4,20,000. There is no middle ground. There is no fire without smoke.
DrNick, another crypto enthusiast, questioned whether Bitcoin’s next spike would occur around the $4,20,000 mark. Based on the $69k spike, another enthusiast named Rssi predicted a Bitcoin spike of $420k. The maximum price of BTC was $69k. Pico’s high will obviously be at 420k in the next cycle.
The largest cryptocurrency by market cap is up 1.12 percent and trading at $20,657. Around the $20,000 mark, Bitcoin appears to be consolidating. According to CoinGecko, the market capitalization of all cryptocurrencies fell below $1 trillion today and rose by around 1% the day before to reach $953 billion.
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