Bitcoin has reached a new all-time high, surpassing $122,000 for the first time in history. Former Binance CEO Changpeng "CZ" Zhao shared insights, stating that the current milestone is just the beginning. He compared the current excitement to the previous peak of $1,000 in 2017, suggesting that future growth could make the $120,000 level seem small.
CZ Says Bitcoin's ATH Has Only Just Begun
Changpeng Zhao commented that Bitcoin's price may soon surpass the current peak and break even larger records. He referred to the 2017 price surge when Bitcoin reached $1,000, and traders still remember how small that price was. Today, you may be aware of the current ATH. He added that this figure will only be a small part in the coming years.
Zhao also added that people need to maintain a humble attitude in the long term and not forget to closely monitor the growth momentum. He stated that, according to historical data, these price changes are part of a stronger upward trend. His comments came shortly after Bitcoin's price surged above $120,000.
He stated that he bought Bitcoin in 2014, tracking the coin through various market cycles. According to the founder of Binance, this trading platform has returned to the $1,000 peak after other crashes over three years. He noted that this pattern aligns with current volatility as Bitcoin's price is making new strides.
Bitcoin Surpasses Amazon in Market Value
Bitcoin has now become the fifth-largest asset globally in terms of market capitalization, surpassing the total value of Amazon. It currently ranks just behind leading tech companies like Apple, Microsoft, NVIDIA, and the world's gold reserves. With a market capitalization of $2.43 trillion, Bitcoin's price volatility reflects the growing interest from institutions.
The recent Bitcoin price rally has accelerated after surpassing the $120,000 mark, adding another $2,000 in just a few hours. Currently, the price of Bitcoin is around $122,295, indicating strong bullish pressure on centralized exchanges. During this rally, KCEX, Binance, and CoinW have recorded an increase in trading activity.
Trading volume has also skyrocketed, indicating high market liquidity and investor interest in this rally. In the past 24 hours, Bitcoin's trading volume has increased by 94.2%, surpassing $44 billion. This growth is driven by most trades occurring on centralized platforms.
Bitcoin Remains Strong After Surpassing $120K
The price increase of Bitcoin has driven more vibrant market activity among individual and institutional investors worldwide. Since surpassing the $120,000 threshold, Bitcoin has maintained stable trading behavior around $122,200. With this performance and the potential for higher growth, the support levels are high.
Analysts believe that Bitcoin's recent growth could lead to further upward movements if the current momentum continues. Despite some short-term adjustments, the long-term chart shows the ongoing strength of the bullish trend. The price trend of Bitcoin indicates increasing confidence from global investors.
The cryptocurrency market has seen increased activity, and BTC is trading significantly better than other altcoins in terms of volume and market share. The recent growth confirms Bitcoin's leading position. The price of Bitcoin has proven its resilience and continues to attract media attention.
Summary
Bitcoin's price has reached an all-time high, exceeding $122,000 and attracting global attention. Changpeng Zhao, former CEO of Binance, does not believe this is the peak and predicts further growth. With a market capitalization surpassing Amazon and increasing trading volume, Bitcoin has officially become one of the most valuable global assets.
