The CEO of the world’s most popular cryptocurrency exchange reckons that $16,000 per Bitcoinis a matter of sooner rather than later.
Changpeng Zhao, CEO of Binance believes the $16K mark will be surpassed “soon-ish,”
His tweet was aimed at @thecryptomonk, who was poking fun at an anonymous 4chan post that had predicted $16K by the end of October.
Bitcoin rallied from a low last month of $7300 to a high of $10500 with the upturn mostly down to President Xi Ximping announcing that China must ‘seize the opportunity’ of blockchain.
The news had an immediate effect on Bitcoin causing the cryptocurrency to increase in value by 42% in a matter of only a few hours, its 4th largest daily gain in its 11 year history.
Changpeng Zhao has long advocated for higher prices for Bitcoin as blockchain adoption increases.
Binance is the most powerful cryptocurrency exchange that recently posted $186 million dollar profits for Q3 2019.