Bitcoin recently surpassed an all-time high of $122,000, and Binance founder Changpeng Zhao shared his thoughts on the future of the cryptocurrency.
Changpeng Zhao's Commentary
Changpeng Zhao, founder of Binance, commented on Bitcoin reaching a new record, noting that this is just the start for further gains. In a recent post, he compared the current excitement to when BTC reached $1,000 in 2017. "This is just a small fraction, less than 1% [of the current Bitcoin value]," Zhao said.
Bitcoin Price Dynamics
At press time, Bitcoin has surged nearly 3.5% in the past 24 hours, reaching a price level of $122,295. After surpassing $120,000, BTC increased in value by $2,000, marking a significant event since its inception in 2009, 16 years ago.
General Trends in the Cryptocurrency Market
Currently, Bitcoin ranks fifth by market cap, trailing only behind assets like Apple, Microsoft, NVIDIA, and Gold. Its market cap stands at $2.43 trillion, surpassing Amazon. The daily trading volume has also increased, reaching over $44 billion, indicating a surge in market activity.
Bitcoin's achievement of a new all-time high highlights the growing interest in cryptocurrencies and potential surprises in the financial market.
