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Binance Founder Predicts Bitcoin Could Reach $500K-$1M This Cycle Amid $100K Bounce and $5K Gold Target

Binance Founder Predicts Bitcoin Could Reach $500K-$1M This Cycle Amid $100K Bounce and $5K Gold TargetThe Defiant1 min read
Binance Founder Predicts Bitcoin Could Reach $500K-$1M This Cycle Amid $100K Bounce and $5K Gold Target

Changpeng Zhao, founder of Binance, has projected that Bitcoin's price could reach between $500,000 and $1 million during the current market cycle, implying a potential surge of up to 1,000% from current levels. This bullish outlook has been echoed across various crypto news sources and analysts. Meanwhile, a CNBC analyst noted that if Bitcoin crosses the $100,000 mark, it could continue to rise to $125,000, describing this level as a bounce point. Additionally, historical trends linked to gold prices suggest that if gold reaches $5,000 per ounce, Bitcoin could surge to $155,000 or higher. The current market capitalization of Bitcoin is under $2 trillion, whereas gold's market cap stands at $22.6 trillion with a target price of over $8,000 per ounce in the coming years, potentially increasing gold's market cap to over $50 trillion. These comparisons highlight the potential for significant growth in Bitcoin's valuation relative to traditional assets like gold.

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