Binance CEO Changpeng Zhao predicts Bitcoin resurrection

Binance CEO Changpeng Zhao predicted the growth of Bitcoin to the previous record high price, but he thinks it could take anywhere from a few months to a couple of years. 

“I think given this price drop, from the all-time high of $68k to $20k now, it will probably take a while to get back. It probably will take a few months or a couple of years,” said the wealthiest crypto billionaire. 

Changpeng Zhao is not alone in his predictions. Binance co-founder Yi He is of the same view. 

“$20k we think is very low today. But you know, in 2018, 2019, if you told people bitcoin will be $20k in 2022, they would be very happy,” he said. 

Given that bitcoin was worth $3–6k in those years, people would have indeed been happy with its $20k value. 

Binance CEO also mentioned that carefree spending during the bull market has now put some crypto projects “in trouble.” 

“Right now, it definitely feels many projects are in a bind because once you get to an all-time high, all the projects spend money like they were always going to be at that all-time high. So now when it drops it feels like during the winter. But for projects that have conserved cash, we’re still fine, we’re still hiring, we’re still growing.” said Changpeng Zhao. 

By the way, Dogecoin creator Billy Markus previously expressed a similar opinion. Is it a coincidence?