CZ Says Bitcoin Could Recover in a Few Months to a Couple of Years PlatoBlockchain Data Intelligence. Vertical Search. Ai.

CZ Says Bitcoin Could Recover in a Few Months to a Couple of Years

CZ Bitcoin

Binance CEO CZ has said that Bitcoin (BTC) may take a few months to a couple of years to get back to its all-time high of $68,000. CZ Believes Bitcoin Could Take a While to Bounce Back CZ told the UK-based Guardian newspaper on Thursday that investors would have been very happy four years ago had they been told that bitcoin would be trading at $20,000 in 2022. “20k we think is very low today. But you know, in 2018, 2019, if you told people bitcoin will be 20k in 2022, they would be very happy. In 2018/19, bitcoin was $3,000, $6,000,” he told the publication. Last weekend, the flagship cryptocurrency fell below the level not seen since late 2020. According to CZ, it could take a few months to even a couple of years for BTC to reclaim its all-time high of $68,000. However, he also said that no one can ever predict the future. On being asked about the investigation by the US financial watchdog on whether Binance had broken securities rules when it launched an initial coin offering back in 2017, he replied that they are in talks with regulators all around the world. CZ’s Take On the Crypto Winter Asked if the industry was approaching another crypto winter, Zhao said it could be difficult for some projects because they were born when the market was at its most recent peak. He added, “Right now, it definitely feels many projects are in a bind because once you get to an all-time high, all the projects spend money like they were always going to be at that all-time high. So now when it drops it feels like during the winter. But for projects that have conserved cash, we’re still fine, we’re still hiring, we’re still growing,”. Although the overall crypto market mood is somewhat gloomy, CZ’s perspective could cheer up long-term investors. However, for short-term traders looking for quick gains, there is no relief in sight.

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