Bitcoin Price
Changpeng Zhao: Bitcoin Price Will See $16,000 ‘Soon-Ish’
November 4, 2019
Bitcoin Price
Changpeng Zhao: Bitcoin Price Will See $16,000 ‘Soon-Ish’
November 4, 2019

Changpeng Zhao (CZ), the CEO of major cryptocurrency exchange Binance, says that a price of $16,000 per Bitcoin will happen “soon-ish,” in a tweet sent on November 1. He explains that price predictions are easy, but getting the timing right is hard. 

However, the message was an answer to the tweet of another user who pointed out that the prediction of an anonymous 4chan user predicting Bitcoin’s price would hit $16,000 by the end of October turned out to be wrong.

Likewise, the given prediction also stated that BTC will hit $29,000 in the first quarter of next year, $56,000 in Q3 2020 and $87,000 in Q4 2020.

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At the same time, other predictions are actually less modest. For example, John McAfee doubled down recently on his $1M Bitcoin by 2020 prediction, arguing that Bitcoin’s next price surge will be triggered by its scarcity. 

It has been reported that the Bitcoin network mined its 18 millionth BTC last month, which means there are only 3 million BTC not yet in circulation.

Similarly, CZ claimed that the Binance’s blockchain decentralized exchange (DEX) Binance Chain has the most volume among DEX platforms.

A few weeks ago, the latest data released by Binance reveals that Binance Chain, the blockchain powering the DEX platform in question, at the time reached more than 26 million transactions submitted by about 290 thousand addresses.

Thus, it has also been reported that competing non-custodial DEX Dolomite announced that on November 8 it will add a margin trading with stop-loss orders.

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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with experience of 1.5 years. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.