Binance CEO Changpeng Zhao – Bitcoin May Hit $100,000 Soon March 25, 2020 March 25, 2020 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Bitcoin NewsMarch 25, 2020 by Kelly Cromley

Binance CEO Changpeng Zhao – Bitcoin May Hit $100,000 Soon

Changpeng ZhaoThe US President Donald Trump’s suggestion to roll out monetary stimulus package worth $1 trillion to ward off negative impact of coronavirus has raised eyebrows of the country’s residents.

Notably, a bipartisan agreement worth twice the value of proposed monetary stimulus program has been accepted and it now looks to be more concrete.

Changpeng Zhao, CEO of Binance, tweeted that the latest stimulus proposal implies a $2 trillion market capitalization for Bitcoin could be deemed reasonable.

The Federal Reserve and central banks across the globe have begun injecting liquidity in the market with the hope to nullify the negative impact of coronavirus outbreak and prevent crash of financial markets.

With trillions to be injected through cash printing by Fed, cryptocurrency market, led by Bitcoin, is already seeing a rebound and decoupling from conventional markets.

Zhao predicts that Bitcoin will skyrocket to $100,000 soon.

Zhao justified his forecast by pointing out that a major portion of Bitcoin is held by HODLers and not offered for sale, only a miniscule percentage of the $2 trillion US stimulus package need to be diverted to Bitcoin to attain a comparable market capitalization.

Zhao’s optimistic outlook about Bitcoin was used to create memes and quickly shared on social media platform.

Several crypto traders have seriously responded saying that it should be construed as a sell signal.

Nevertheless, with tons of dollars to be injected into the economy, Bitcoin’s limited supply may provide the necessary impetus for the rally above $10,000.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.