A former executive of the world’s largest cryptocurrency exchange expects that Bitcoin could soar higher than the $100,000 level.
Former Binance CEO Changpeng Zhao believes that the firstborn cryptocurrency is capable of hitting a higher price point, following its brief recovery to $100,000 on Tuesday.
A “Boring” Level?
Bitcoin embraced the new year on a positive note as the crypto recorded a recovery that catapulted it to reach the $100,000 mark.
Zhao, who is also the founder of Binance, suggested that the top crypto asset can do better and surpass the $100k price point.
“100k is boring, right?” Zhao said in a post, responding to Bitcoin recovery.
Investors have seen Bitcoin reclaim its lost glory after hitting $100,000 after the digital asset slid down the key level on December 19, staying below $100,000 for quite some time before gaining momentum to propel it to this milestone level.
100k is boring, right?
— CZ BNB (@cz_binance) January 7, 2025
Bitcoin Destined To Reach New Heights
Zhao, popularly known as CZ, asserted that Bitcoin is far more capable of reaching a price point beyond $100k. Hence, the former crypto firm executive was not surprised with BTC making a comeback and surging in the last 24 hours.
The ex-Binance CEO’s post on X sparked excitement among members of the cryptocurrency community as Zhao’s post suggests that BTC prices could go up.
Last month, Bitwise executive Matt Hougan predicted that the bullish run for cryptocurrency would still gain momentum until 2025. Hougan expects that other top crypto assets would soar in price such with Bitcoin leading the charge.
Hougan believes that BTC could reach as high as $200,000 before the end of 2025, claiming that inflows from the Bitcoin ETFs could fuel the demand from corporate entities. This, as a result, would increase their exposure to the premier crypto asset.
Positive Sentiment Continues
Zhao has a positive outlook for cryptocurrencies, saying that 2025 would be a “send it’ year” for digital assets. According to analysts, the term ‘send it’ is being used when there is excitement surrounding cryptos brought by soaring prices.
If you ever wondered why people tweet 4, it came from this tweet 2 years ago today. In hindsight, should’ve made “4” the “0”th point.
2025 will be a “send it” year. https://t.co/6f27u0mYez
— CZ BNB (@cz_binance) January 3, 2025
Other market analysts agree that digital assets would experience a surge in their prices in 2025, which would be driven by crypto adoption from institutional investors and national governments.
Although the former Binance CEO believes in Bitcoin moving past $100,000, Zhao did not provide a price prediction for the year. However, there were occasions that Zhao hinted that Bitcoin could be traded at $850,000 per coin.
Featured image from Getty Images, chart from TradingView
Source: NewsBTC