Speaking at a conference in Bangkok on Sunday, Binance CEO Richard Teng predicted that Bitcoin could break $80,000 in the future, on the back of growing institutional interest in and investment in cryptocurrency-backed exchange-traded funds.
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Ting also highlighted the pivotal role of the launch of Bitcoin ETFs on the US stock exchange in attracting institutional investors, indicating that the influx of funds into Bitcoin ETFs has recently begun. However, Ting warned that the path to higher Bitcoin prices could see extreme volatility, which is good for the dynamics of the cryptocurrency market. It is worth noting that the famous cryptocurrency analyst, George Tong, previously predicted that Bitcoin’s value would reach more than $150,000 in just 6 months.
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