Richard Teng, CEO of Binance, the world’s largest cryptocurrency exchange, increased his year-end price forecast for Bitcoin.
According to the news reported by Bloomberg Binance CEO Richard TengBitcoin by the end of the year It can exceed 80 thousand dollars expressed.
Speaking at an event in Bangkok on Sunday, Teng said spot Bitcoin exchange traded funds (ETF) Stating that the money flow towards will grow like an avalanche hinted.
Teng had previously said that Bitcoin could reach $80,000 by the end of this year. However, he stated that the demand for spot Bitcoin ETFs, which exceeded the estimates, pushed him to give a target of over 80 thousand dollars. Reiterating that this prediction was his personal opinion, Teng said that the rally was “a straight line” will not happen and Ups and downs will be good for the market he added.
The banking giant, which recently published a similar report Standard Charteredmoney flow to spot Bitcoin ETFs will increase Bitcoin next year It can carry up to 250 thousand dollars he emphasized.