News View Non-AMP

Binance CEO Sets Bitcoin Price Target Above $80,000 by Year’s End; Explains Why

Published by
Anjali Belgaumkar

The Federal Reserve’s hawkish stance last week during the FOMC lowered institutional investors’ confidence, leading to major market outflows across all crypto Exchange Traded Products (ETPs). Last week alone, these outflows amounted to about $600 million. Reflecting on these developments, it’s evident that we’re in a different phase now and this could be influencing Bitcoin’s recent decline to around $66,000. 

On The Paul Barron Network, the host brought to attention a recent statement made by Binance CEO Richard Teng about Bitcoin price. Teng anticipates Bitcoin will exceed $80,000 by the close of 2024 while maintaining an even more optimistic outlook for 2025.

On the Bankless Podcast, he said, “My price for the end of this year is much higher than $80,000. I’m not going to give you the exact price, but it’s much higher than my base price from last year. I think next year will be a much, much better year compared to this year. Something unique in this cycle—if you remember past cycles, it usually started with Bitcoin rallying, then filtered down to the other major coins, and finally to the meme coins.”

He continued, “This cycle focused on Bitcoin and then jumped straight to the meme coins. This is unique in that sense, something we haven’t quite seen in previous cycles. I do think the market cap will more than easily double. It’s hard to predict exactly, but it will easily more than double from where we are now.”

At the time of writing, Bitcoin is trading below the crucial $66k levels. The king coin is trading in the red zone, while most altcoins are trading in the green zone. However, there is still no clear confirmation of a breakout in either direction. 

Also Read : SEC Suspends its Investigation into Ethereum 2.0: Will This Be the Catalyst to Propell ETH Price to $4000?

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

XRP Price To Revisit $2 Before ‘Final Blastoff’

XRP is currently down by more than 1% in the last 24 hours. The price…

April 2, 2025

Ethereum Price Prediction 2025, 2026 – 2030: Will ETH Price Hit $5k in 2025?

Story Highlights The Ethereum price today is . ETH price with a potential surge could…

April 2, 2025

Altcoins to Watch as The US Is Set to Reveal Its Crypto Stockpile On April 5

President Donald Trump’s decision to create an official U.S. government crypto reserve has sparked huge…

April 2, 2025

Bitcoin Price Prediction 2025, 2026 – 2030: Is $100k Arriving Anytime Soon?

Story Highlights The Bitcoin price today is . The BTC price could hit a maximum…

April 2, 2025

Sui Price Prediction 2025, 2026 – 2030: SUI Price To Hit $10 This Year?

Story Highlights The live price of SUI crypto is . The SUI price is expected…

April 2, 2025

This Token Is Still Priced at $0.025 — But It’s Already Closing In on a $6M Funding Milestone

In a time where many crypto tokens have already experienced their major runs, a few…

April 2, 2025