Changpeng Zhao (CZ), CEO of cryptocurrency-exchange Binance, says that the price of bitcoin (BTC) will “soon” rise to $ 16,000.
A list of price forecasts from an anonymous person has recently been circulating in the cryptocurrency community predicting that bitcoin would reach $ 16,000 in October:
We still good pic.twitter.com/LMO69BdW86
– Keeper (or N8V) (@thekryptkeepr) November 1, 2019
So that turned out to be incorrect. It is also not clear when this prediction was made. In response, CZ reports on Twitter that it is easy to make price predictions, but that he expects $ 16,000 to come soon:
Lol, price predictions are easy. It & # 039; s just hard to be right about the timing. We will see $ 16k soon-ish. 1.4 billion people working on it as we speak. https://t.co/mf9hKpP6Js
– CZ Binance (@cz_binance) November 1, 2019
I have to laugh, price forecasts are easy to make. It’s just hard to be correct about the timing. We will see $ 16,000 soon. 1.4 billion people are working on it while we speak.
Yet the anonymous person’s predictions are even somewhat mild when compared to others in the market.
In September, bitcoin bull Tim Draper predicted that bitcoin would be worth $ 250,000 by 2020. Plan B, known from the stock-to-flow model, recently predicted $ 100,000 at the end of 2021. Peter Brand, a veteran of technical analysis, said at the end of September that $ 50,000 is already possible next year. And billionaire John McAfee even mentioned $ 2 million at the end of 2020 a few weeks ago.
It may be clear that such price predictions usually have to be taken with a grain of salt. Changpeng Zhao also sometimes writes ready-made nonsense on Twitter, which turned out to be the case in August.
Binance.US recently made several major announcements including the support of debit cards, the addition of new tokens and the achievement of a daily trading volume of $ 15 million.