Binance CEO Richard Teng is revealing his latest crypto predictions as Bitcoin (BTC) hovers in the mid-$60,000 range.
In a new interview on the Bankless YouTube channel, Teng predicts that Bitcoin will soar past $80,000 before the year’s end.
His prediction for 2025 is for Bitcoin and other digital assets to have an even better year than 2024 due to improving macroeconomic conditions.
He also says that the approval of Bitcoin’s exchange-traded funds (ETF) earlier this year and the expected approval of ETFs for Ethereum (ETH) could continue to drive more liquidity into the crypto markets from traditional finance institutions and propel the bull market cycle higher.
“I think 2025 is going to be an even better year than 2024 for the crypto industry in general because the general macroeconomic condition will be much better. We’re probably going to see an interest rate reduction towards the end of this year. There’s going to be a much better macroeconomic environment, much more enlightened interest rate environment. So I think all those will boost crypto prices even further in 2025.
So my base prediction [at the] end of 2023 was $80,000 [for Bitcoin at the end of 2024]… But what I didn’t predict was the strong robust inflows from the institutions after the launch of [the Bitcoin] ETF. I didn’t expect the ETF to be approved so quickly, so early on in the year. My prediction for ETF approval was possibly towards the end of 2024 even 2025. I have changed my [Bitcoin] prediction because of that. My price for end of this year is much higher than $80,000. I’m not going to give you the price, but it’s much higher than my base price from the end of last year, and I think next year will be a much better year compared to this year. That’s my view.
You have seen a lot of analysts coming out, including from Standard Chartered, to say that by next year Bitcoin should reach $200,000 – if there’s a squeeze it should reach $250,000. So I think there’s still some room to grow, both for Bitcoin as well as tokens such as Ether. That [ETH] ETF has just been approved. Again, with all this approval of ETFs it brings new liquidity, new user pools. I mentioned $15 billion has flown into the Bitcoin ETFs since the beginning of the year, after the approval. And that’s very robust. We will continue to see pretty robust institutional demand on that front. And that is really very beneficial for the crypto community.”
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The post ‘Much Higher Than $80,000’ – Binance CEO Reveals Bull Market Predictions, Says 2025 To Be Even Better for Crypto appeared first on The Daily Hodl.
