As the lasting pandemic continues to prevent the world’s financial market from moving back to its previous levels, the CEO of Binance, Changpeng Zhoa, seems to be quite bullish about Bitcoin trend in coming days. The CEO of the ‘largest ‘cryptocurrency exchange in a statement revealed what he thinks would put Bitcoin’s value at $100,000 per unit.
CZ said the Trillion Dollar market cap frequently discussed by people would go a long way in pushing the price of Bitcoin up in the market. Zhoa said if Bitcoin’s market cap could reach $2 trillion, a unit of BTC would be worth $100,000.
“Not such a hard to imagine number now, right?” Zhoa explained.
The CEO who displayed his philanthropism by donating $1.44 million to China to help fight the deadly Coronavirus (COVID-19) added that most BTCs are in the hands of hodlers, hence a great edge for Bitcoin in reaching $2 trillion market cap.
“As most BTC are not for sell (HODLers), we only need a small portion of that $2t to buy to reach it,” Zhoa added.
As we get used to talk about Trillions, a modest $2 trillion market cap of #bitcoin will put 1 BTC at $100,000. Not such a hard to imagine number now, right?
As most BTC are not for sell (HODLers), we only need a small portion of that $2t to buy to reach it.
— CZ Binance 🔶🔶🔶 (@cz_binance) March 25, 2020
Bitcoin Intraday Price Analysis
As China reveals that it is gradually eradicating the novel coronavirus, Bitcoin is also gradually displaying positivity by adding up to its value.
Towards the end of last week, a unit value of Bitcoin was worth less than $5,000, however, the leading digital asset is now on the upside trend, and it is valued $6,600 at press time. Bitcoin’s fractal continues to face upward with no sign of relentless. If Bitcoin maintains the present trend, there is great possibility it will break above $7,000 resistance in the next few hours.
Most altcoins are also following Bitcoin’s lead in the market, nevertheless, Ethereum remains in the red zone at press time, despite moving towards the north.
A number of analysts and icons in the crypto space have displayed optimism for the cryptocurrency market with positive predictions for Bitcoin. Most claimed that as soon as the Coronavirus vanishes away, Bitcoin will be bullish.