Binance Co-founder Changpeng Zhao Says Bitcoin Will Hit $500,000 or $1M This
Binance co-founder and former CEO Changpeng Zhao has predicted that Bitcoin will hit new price milestones during this bull cycle, including a seven-figure value.
This bull cycle has seen its fair share of highs and lows, including Bitcoin’s surge to a six-figure valuation. The flagship cryptocurrency crossed $100,000 for the first time last December and hit a new high of $109,300 on January 20.
However, as the asset faces consolidation following a drop from the $109K peak, Binance co-founder and former CEO Changpeng “CZ” Zhao has dropped a bold Bitcoin price prediction. He suggested that the crypto firstborn will break new heights with a surge to between $500,000 and $1 million this bull cycle.
More Milestones for Bitcoin
CZ made the price prediction during the Myriad Markets prediction session in a RugRadio podcast with founder Farokh Sarmad. When quizzed on which price Bitcoin will trade at by the end of the bull cycle, he stated that the asset would rally, possibly to a seven-figure value at $1 million.
Interestingly, CZ had made a similar prediction in the past. In a tweet during the February market crash, he asserted that the crypto leader would hit $1 million before crashing to around $985,000. However, he did not place a timeline for its attainment until yesterday’s podcast.
Notably, this price target would see Bitcoin rally 959% from its current market price of $94,457. Also, its market cap will reach $19.8 trillion, nearing gold’s current valuation of over $22 trillion.
Meanwhile, the Binance co-founder expects the global cryptocurrency market to hit $5 trillion by the end of the year. Notably, his analogy suggests that this bull cycle will extend beyond 2025, which is supposedly the last year of the bullish season according to the historical cyclical calendar.
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