September 27, 2022

The head of Binance predicted the rise in the price of bitcoin to $420,000

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The CEO of the Binance exchange, Changpeng Zhao (CZ), assured that the entire industry continues to grow despite the short-term fall in the cryptocurrency market. The specialist said that the next peak in the price of bitcoin (BTC) will be at around $420,000, but this will take time. CZ stressed that many companies in the industry launched at the peak may face difficulties.

In his interview with The Guardian, Zhao said that most likely, a new price peak will be reached within the next 2 years. The director of the exchange noted that after the rapid fall in the flagship cryptocurrency from $69,000 to $20,000, it will take some time to restore balance. This will take from a few months to a couple of years. Zhao also noted that the current value of $20,000 is not that bad. If people were told in 2019 that the first cryptocurrency would reach such a price point, they would be happy.

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