Binance CEO Bullish on Bitcoin, Predicts Price Surpassing $80,000 : dsaoodsai odsfpowu vcmkds iewqr

Binance CEO Bullish on Bitcoin, Predicts Price Surpassing $80,000

Bitcoin’s impressive performance this year, with a 56% surge and reaching an all-time high of nearly $73,798 last week, has prompted optimism from Binance chief executive officer Richard Teng. Teng anticipates that Bitcoin will continue its upward trajectory, surpassing the $80,000 mark, driven by institutional investors’ increasing participation in crypto-backed exchange-traded funds (ETFs).

Speaking at an event in Bangkok on Sunday, Teng highlighted the significant inflows of institutional capital into Bitcoin ETFs following their launch in the US earlier this year. He expressed confidence in the ongoing momentum, stating, “we’re just getting started.”

Initially projecting Bitcoin to conclude the year around $80,000, Teng now foresees the cryptocurrency exceeding this threshold, citing a combination of reduced supply and sustained demand. However, he emphasized that market dynamics won’t follow a linear path, acknowledging that volatility and market fluctuations are integral to the process.

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5,898,997 (2.7%)
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83 (0.15%)

Despite the remarkable rally, concerns about a potential bubble have emerged among some investors, leading to sporadic bouts of volatility and sell-offs in recent trading sessions.

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