Crypto’s richest billionaire, Bitcoin (BTC), is reportedly finally making its all-time high.
However, their timeline is very forgiving.
Binance CEO Changpeng Zhao tells The Guardian that major cryptocurrency can take anywhere from a few months to a couple of years before returning to a record-high price.
“Given this price drop, I think it will probably take a while to come back, from an all-time high of $ 68,000 to $ 20,000.
On November 10, 2021, Bitcoin reached its record high of $ 69,044. At the time of writing, BTC is trading at $ 20,656, up nearly 15% from the 2022 minimum of $ 17,800 reached last week.
According to The Guardian, Binance’s co-founders say bitcoin’s price sentiment depends on perspective.
“We think $ 20,000 is too low today. But you know, if you tell people that Bitcoin will be worth $ 20,000 in 2018, 2019, 2022, they’ll be very happy. In 2018/19, Bitcoin was $ 3,000, $ 6,000.
Zhao tells The Guardian that carefree spending during the bull race has now put some crypto projects “in agreement.”
“Right now, it definitely feels like a lot of projects are in a bind because once you get up all the time, all the projects are always worth the money. So now it feels like it’s winter time. We are still growing.
Forbes ranked Binance Bass the richest person on crypto and the 19th richest person in the world in April. The publication estimates Zhao is worth about $ 65 billion.
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Featured image: Shutterstock / Ezekiel