Changpeng Zhao says the Bitcoin price will help $ 16,000

CEO Binance Changpeng Zhao is considered one of the most influential voices in crypto, despite the fact that he sometimes faces critics and detractors. Recently, CZ drew attention with a prediction for the Bitcoin price of $ 16,000. This level has not been registered in cryptocurrency for more than 18 months.

“Lol, price forecasts are easy to do. The difficult part is being right about the timing. We’ll see $ 16k soon. 1.4 billion people work on this as we speak ”

Zhao said on Twitter.

Who the 1.4 billion people who contribute to Bitcoin’s growth is unclear, as the global crypto-enthusiast community seems much smaller. Binance’s CEO is likely to rely on the fact that much of China will enter the crypto market.

Possible expansion on the Chinese market

Binance demonstrates optimism not only for Bitcoin, but also for China’s relationship with cryptocurrencies. Recently, the exchange opened an OTC office for Chinese traders, and Changpeng Zhao mentioned Alipay and WeChat as tools to buy BTC.

In addition, there are indications that Binance will open a new office in mainland China to meet the increased demand for crypto-related services.

Currently, Binance is now fighting for a leading position in BTC futures trading. This is one of the largest, most liquid and profitable markets.

Bitcoin is around $ 9100

So far, Bitcoin does not seem to confirm Changpeng Zhao’s expectations. After the sharp rise on October 26, the BTC fluctuated between 9100-9300 in the last week. Bitcoin’s fear and greed index is currently stuck in the middle on neutral at 50 points, not being targeted in any particular direction.