finance
monthly
Personal Finance. Money. Investing.
Contribute
Newsletter
Corporate

Binance CEO Says Bitcoin Could Remain Below $69K Peak For Two Years

According to the CEO of the world’s largest cryptocurrency exchange, Binance, Bitcoin may well stay below its all-time high of $69,000 for the next two years.

Posted: 23rd June 2022 by
Finance Monthly
Share this article

Changpeng Zhao, founder and CEO of Binance, said investors would have been “very happy” four years ago had they known that Bitcoin was trading at $20,0000 in 2022. Zhao’s comment comes as Bitcoin dropped below that level at the weekend, wiping out the gains of many long-term Bitcoin holders.

Speaking to the Guardian, Zhao said, “I think given this price drop, from the all-time high of 68k to 20k now, it will probably take a while to get back. It probably will take a few months or a couple of years.”

“20k we think is very low today. But you know, in 2018, 2019, if you told people bitcoin will be 20k in 2022, they would be very happy. In 2018/19, bitcoin was $3,000, $6,000,” he added.

According to CoinDesk, Wednesday saw Bitcoin trading at $20,491 after reaching lows not seen since late 2020 at the weekend.

[ymal]

 

About Finance Monthly

Universal Media logo
Finance Monthly is a comprehensive website tailored for individuals seeking insights into the world of consumer finance and money management. It offers news, commentary, and in-depth analysis on topics crucial to personal financial management and decision-making. Whether you're interested in budgeting, investing, or understanding market trends, Finance Monthly provides valuable information to help you navigate the financial aspects of everyday life.
© 2024 Finance Monthly - All Rights Reserved.
News Illustration

Get our free monthly FM email

Subscribe to Finance Monthly and Get the Latest Finance News, Opinion and Insight Direct to you every month.
chevron-right-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram