Former Binance CEO Changpeng Zhao, known by many as “CZ” believes that Bitcoin price has just about begun its rally. In a recent podcast with Farokh Sarmad, CZ was asked to give his predictions on different market actions, least to say Bitcoin owners are very happy with his answers.
In the rapid-fire session, CZ was asked what will be the price that Bitcoin tops at in this market cycle. Slightly hesitant at first, CZ responded saying it was a difficult question but then chose to put a number to it. “$500,000 to $1,000,000” he added, much to the interviewer’s delight.
CZ also sees the total crypto market capitalization reach a $5 trillion mark by the end of this year. Cryptos already seem to be marching towards that end, with the current global crypto M-Cap approximately at $2.98 trillion.
So what’s giving the crypto world such enthusiasm? Many would say the growing institutional interest, changes in regulations across the world and a much wider adoption and acceptance has kept the mood upbeat.
Inching towards the $100,000 mark, bitcoin prices have witnessed some bit of volatility in the past 1 week touching highs of $97,715 on May 2, however they retreated since to trade at $93,778 currently according to coin gecko.