The CEO of Binance, Changpeng Zhao (CZ), has given credence to a viral Bitcoin prediction made by Pantera Capital CEO Dan Morehead, where he said that the Price of BTC could go past $100K in August.
On the 4th of May, Dan Morehead in a letter shared with investors, researched the performance of Bitcoin after every halving and concluded that the price of BTC could go above $100,000 in August 2021.
The CEO of the crypto hedge fund compared the price of BTC based on halving with oil, gold, and venture capital.
The CEO of Pantera said, “if the new supply of bitcoin is cut in half, all else being equal, the price should rise”. The CEO concluded that Bitcoin would peak at $115,212 /BTC provided things happen as expected.
According to him, “the price may sound ludicrous to some today”, the chances that BTC reaches the said point is more than 50-50. Bitcoin “goes up – and goes up big,” he predicted.
Responding to this, CZ, in a single line of tweet said the prediction “is so precise.” The coded founder of the largest exchange that recently acquired CoinMarketCap made the comment with no further explanations.
— CZ Binance 🔶🔶🔶 (@cz_binance) May 6, 2020
CZ is a relevant figure in cryptocurrency. He owns notable cryptocurrency businesses and oversees them virtually.
Binance also acquired WazirX, DappReview, JEX, Trust Wallet, and some notable cryptocurrency-centered platform.