There was a time when Bitcoin was trading just shy of $20,000 late last year and now it is trading for 6,279.51 USD or 815,538 PKR for a single coin. It’s not bad but the cryptocurrency market has been reliable in regards to prices, for instance, just last month, Bitcoin shed $400 in value in just 30 minutes.
Despite all of the above though, Binance CEO Changpeng Zhao is placing high hopes on Bitcoin and going as far as to say that a “bull run” is going to start soon but even he doesn’t know what will catalyze it. For those of you who don’t know, Binance is the world’s largest cryptocurrency exchange website and Bitcoin trading is down almost 90% since January this year.
However, according to Zhao, their platform has seen growth in terms of active users and bitcoin deposits over the course of this year plus they are working on bringing institutional investors which will further increase the value of the cryptocurrency market. There are also expectations that the U.S debt may trigger another surge in cryptocurrency trading. Bloomberg also reported that bitcoin price could go higher based on technical indications.
What are your thoughts regarding cryptocurrency trading? Will there be another surge in Bitcoin’s price? Let us know in the comments.