The CEO of Binance, the world’s largest crypto exchange by trading volume, recently talked about when we can expect to see Bitcoin get back to its all-time high (ATH) of $69,000 (which was reached on 10 November 2021).
According to a report by The Guardian, Changpeng Zhao (better known as “CZ” in the crypto space) said in a recent interview that it could be a while before Bitcoin gets back to its ATH price.
CZ mentioned that most crypto investors would be “very happy” if they had been told four years ago that Bitcoin would trade for $20,000 in 2022.
He told the Guardian:
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.
While CZ gave the caveat that “no one can predict the future,” he did note that $20K for Bitcoin represented a substantial increase in price from just 2019, when BTC was under $10K. CZ explained that Bitcoin’s price bottom is currently higher than the previous peak, which he claimed was evidence that the industry is “definitely growing.” He called price fluctuations “normal,” but did not necessarily commit to saying that the volatility of crypto would constitute the norm long term.
CZ noted that the flagship cryptocurrency’s market cap had declined precipitously since November 2021, saying that the drop was putting some projects in a “bind.” However, he said Binance was “fine,” and that the company was still hiring and expanding.
On the topic of crypto regulations that could Binance, he had this to say:
We talk with all regulators around the world. They send us questions, we answer them, with an investigation or not.
On June 23, Binance announced an “exclusive multi-year partnership with Portuguese football legend Cristiano Ronaldo.”
The blog post went on to say:
“The five-time Ballon D’or winner is joining forces with Binance to provide a one-of-a-kind experience for football fans worldwide, with a series of NFT collections that will launch exclusively on Binance’s official NFT platform. Registered Binance users in select countries will also be able to purchase the collections using Binance Pay. The first collection, slated to launch later this year, will feature iconic designs created in collaboration with Ronaldo.“