Binance CEO Goes 4Chan Bitcoin Price Prediction by Saying $16,000 USD Incoming ‘Soon’
Changpeng Zhao, CEO of one of the largest crypto exchange and one of the better known influencers has predicted that Bitcoin might touch $16k price point soon. Although he did take a quip on the idea behind making price prediction for cryptocurrencies as most of them are without any technical basis and had never been precise. He said,
“Lol, price predictions are easy. It's just hard to be right about the timing. We will see $16k soon-ish. 1.4 billion people working on it as we speak”
Lol, price predictions are easy. It's just hard to be right about the timing. We will see $16k soon-ish. 1.4 billion people working on it as we speak. https://t.co/mf9hKpP6Js
— CZ Binance (@cz_binance) November 1, 2019
The mention of 1.4 billon people could be a reference to China which has pushed for the implementation of blockchain technology in their nation. Many speculated that the last week's Bitcoin pump of more than 40% in a single day was promoted by Chinese president's announcement about rapid adoption of blockchain technology.
Although Binance is based out of Japan due to China's policy which banned all crypto exchange from operating on Chinese soil, CZ is trying hard to lieu in the Chinese user base. Recently it announced that users can buy Bitcoin from WeChat and Alipay. Binance also opened an OTC desk for Chinese traders.
China is the Biggest Market
China is not just big in terms of human and natural resources but it also has one of the largest consumer market, and being a tech-centered nation, if any firm or platform can find an inway into the Chinese market, they can surely gain a large lead in their field, and CZ is making sure to leave no stone untouched to capture the Chinese space.
Binance is set to launch a new office in mainland China amid growing demand for crypto services in the most populated country of the world.
However talking about price predictions, none of them have aged well. Right after the massive bull run towards the end of 2017 many self proclaimed crypto pundits predicted the price to skyrocket in 2018. Unfortunately 2018 turned out to be a disaster year as the whole crypto market lost over 80% of its market valuation.