Despite the recent volatility, according to Binance CEO Changpeng Zhao, the cryptocurrency market is still on the rise. He added that bitcoin could hit record highs in the future. He warned that there will be challenges in the future for some businesses established at the height of the market.
In an interview with The Guardian, Zhao made some interesting remarks about the potential for another bitcoin record high. It could take up to two years for bitcoin to reach its next all-time high, according to the CEO, who also warned that no one can predict the currency’s future.
“I think it will probably take some time to come back, given this price drop, from the all time highs of 68k to 20k. It will probably take a few months or a few years.”
Zhao acknowledged that the $20,000 range is relatively low, but feels that the current bitcoin price is not that dire. However, he added, if someone had informed him in 2018 or 2019 that bitcoin could hit $20,000 in 2022, they would be very happy.
Will BTC price reach $420k?
Although the exact date of the next bitcoin record high is unknown, many are speculating confidently as to when it might happen. Many others think it could be closer to $420,000. Steve’s proof said,
“As bitcoin topped $69,000, it is clear to me that the next target could only be $4,20,000. No one is in the middle. There is no fire without smoke.”
Another cryptocurrency enthusiast DrNick questioned whether the next bitcoin peak would be around the $4,20,000 mark. Based on the $69k peak, another enthusiast named Rssi predicted a $420k bitcoin peak. The top BTC price was at $69k. Surely the height of the pico will be 420k in the upcoming cycle.
The largest cryptocurrency by market cap rose 1.12 percent and was trading at $20,657. Around $20,000, bitcoin is consolidating. According to CoinGecko, the market capitalization of all cryptocurrencies fell below $1 trillion today and rose nearly 1% to reach $953 billion in the past day.