- The Bitcoin price surpassed $73,000 for the first time last week.
- In November 2023, Binance had a new chief executive officer (CEO), Richard Teng.
Richard Teng, the current CEO of Binance, according to Bloomberg has stated that he thinks bitcoin (BTC) will reach $80,000 by the 2024 end. According to Teng, “with supply reducing and demand continuing to come through,” he anticipates that the biggest cryptocurrency in the world will surpass his earlier prediction of $80,000.
Following the U.S. SEC’s approval of a spot bitcoin ETF, the cryptocurrency market has been seeing consistent annual gains; last week, bitcoin surpassed $73,000 for the first time.
Optimistic Investor Sentiment
Many banks and other financial institutions are now crypto bulls due to the market rise and institutional adoption. Standard Chartered (STAN) increased its bitcoin end-of-year goal to $150,000 on Monday.
In November 2023, Binance had a new chief executive officer (CEO), Richard Teng, after Binance founder Changpeng Zhao’s (CZ) resignation as part of a $4.3 billion deal with U.S authorities.
Moreover, the report cited Teng as saying that endowment institutions and family offices would soon boost their investments in bitcoin exchange-traded funds. This rise won’t be a “straight line,” Teng remarked at an event in Bangkok on Sunday, adding that the market would benefit from the ups and downs.
Investors and market aficionados are on edge due to Bitcoin’s recent turbulent ride, which has seen the cryptocurrency experience unparalleled highs and scary falls. Following its record-breaking surge to over $73,000 earlier this month, Bitcoin’s precipitous fall to below $65,000 was just as precipitous. It is now hovering at $67,498, exhibiting a slight decrease of 0.58% as per data from CoinMarketCap.
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