‘Bitcoin will be Close to Rs 54 lakh in a few months’

Even though the price of bitcoin is currently hovering near its low level, market experts are saying that in the next few months it can reach its all-time high, $ 70 thousand (about Rs 54 lakh). Not only this, the price of bitcoin can remain at this level for the next 2 years.

The CEO of cryptocurrency exchange Binance recently made predictions about bitcoin in an interview with The Guardian. Changpeng Zhao has given good signs about the future of bitcoin, saying that the price of bitcoin will approach its all-time high in the next few months. For the next two years, it will continue to trade close to the level of 70 thousand dollars (about Rs 54 lakhs).

'Bitcoin will be Close to Rs 54 lakh in a few months'

“I think it’s going to take a long time to recover from $68K to $20,000,” Zhao said. It could take a few months or even a few years. At the same time, he also said that nothing can be said accurately about the future.

Talking about the current price of Bitcoin (Bitcoin’s latest price), it has opened today with a gain of 5 percent. The price of bitcoin was trading at Rs 16,46,006 on the Indian exchange Coinswitch Kuber till the time of writing this news. On the previous day, the price of bitcoin fell below $ 20 thousand to reach $ 17 thousand. With this fall, it fell to the level of December 2017. Crypto investors didn’t expect it to go down that much.

The price of bitcoin reached a high of $19,783 in December 2017. After that in 2018, when the market declined, it fell to the level of $ 3 thousand. After that in December 2020, it again reached the highest level of 20 thousand dollars. That is, it took 3 years for bitcoin to achieve its highest level. If this trend is to be considered as the basis, then it may take about three years for bitcoin to regain its all-time high of $70,000.

Changpeng Zhao said, “We think that the level of 20 thousand dollars is very low. But if in 2018, 2019 people were told that bitcoin would be at 20 thousand dollars in 2022 they would have been very happy. At that time bitcoin was less than 3 thousand. Was trading at the level of 6 thousand dollars.

Sunil Kumar writes about smartphones and laptops for Gadgets 360 Tech News based out of Mumbai. He is Deputy Editor (Reviews) at Gadgets 360 Tech News. He has written frequently about the smartphone and PC industry and has an interest in photography as well.

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