Binance CEO: Bitcoin will cost $ 80,000 by the end of the year

Richard Teng, CEO of the largest crypto exchange Binance, shared his forecast for the value of bitcoin BTC $65,723.80 Bitcoin -0.13% Market capitalization $1.3 trillion VOL. 24 hours $0.62 billion . In his opinion, the price of the first cryptocurrency will exceed $ 80,000 by the end of this year.

In addition, Teng stated that the improvement of macroeconomic indicators in 2025 will be a strong catalyst for further growth of the crypto industry.

«I have changed my forecast for bitcoin, it will be much higher than $ 80,000 and I think next year will be much better compared to this year. This is my opinion,» said the Binance CEO.

The CEO of the crypto exchange believes that the approval of spot ETFs for bitcoin and ethereum ETH $2,680.19 Bridged Ether (StarkGate) -0.73% Market capitalization $0.2 billion VOL. 24 hours $0.4 billion will continue to stimulate strong demand from institutional investors. According to Teng, in the next two years, we should expect an increase in the value of not only bitcoin and ether, but also altcoins, as interest rates (Fed — ed.) will be lowered, which will create the basis for a better macroeconomic environment in the markets.

As a reminder, crypto strategist DonAlt has named a factor that will cause the growth of the bitcoin cryptocurrency to a historical high. The expert believes that bitcoin’s price behavior may depend on the strength of the S&P 500.