According to Richard Teng, 2025 will be much more favorable for the cryptocurrency industry than the current one, as the macroeconomic environment will change. The head of Binance believes that by the end of 2024, the Bitcoin rate will be at least $80,000, and possibly more.
The top manager believes that the approval of spot Bitcoin ETFs and the upcoming launches of similar products based on Ethereum will help attract even more funds to the cryptocurrency market. This, in turn, will contribute to the development of a bullish trend for many leading virtual assets, the CEO of the exchange emphasized.
In addition, Teng suggests that by the end of this year, the Fed will most likely soften its tight monetary policy, which will create a favorable macroeconomic background. Due to this, next year the crypto market will be able to demonstrate a stable growth trajectory. At the same time, the businessman refused to make a forecast as to how much the value of BTC will increase during 2025.
Regardless of anything, the head of Binance is convinced that the influx of capital from institutional investors into crypto products will continue, which is extremely useful and beneficial for the entire crypto industry.
Richard Teng's forecast can be called more realistic compared to other estimates from well-known businessmen and investors, suggesting that the Bitcoin rate could exceed hundreds of thousands of dollars in just a few months.
