According to Teng, these factors as the drying-up supply and the continual demand indicate a bullish trend. He indicated that digital currencies will do quite well and even beat the hinted earlier scheduled time.
The crypto market has enjoyed huge trade volumes in all the transactions throughout the year with the approval Bitcoin exchange-traded fund (ETF) in the US. Last week Bitcoin smashed the $73,000 record it was the first time it ever achieved this level.
The crypto market has enjoyed huge trade volumes in all the transactions throughout the year with the approval Bitcoin exchange-traded fund (ETF) in the US. Last week Bitcoin smashed the $73,000 record it was the first time it ever achieved this level.
Additionally, Standard Chartered, one of the biggest financial corporations, has revised its year-end price estimates for Bitcoin, increasing it to $150,000. This adding up theme is a sign of bullishness for digital currency trading that shows potential growth and future performance.
Teng elaborates that this rise in institutional investors liking Bitcoin with a growing confidence has served as a streak towards more ventures in the field with funds from family offices and endowment funds applied into Bitcoin ETFs.
These inventions lead to the use of cryptocurrency in routine financial sectors which itself is a sign of broader acceptance and adoption of digital assets in traditional financial sectors.
The market is growing due to big companies getting into crypto. Standard Chartered now thinks Bitcoin could hit $150,000 by year-end. Richard Teng took over Binance in 2023 after CZ’s resignation. More investors, like family offices and endowment funds, are expected to jump into Bitcoin ETFs soon, says Teng. He also mentioned at an event that the market won’t always go up smoothly, but the ups and downs are healthy for it.
