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New Binance CEO releases his Bitcoin price prediction

Richard Teng (Image: Binance)

Richard Teng, appointed CEO of Binance after the departure of Changpeng Zhao, believes that Bitcoin will soon reach a new record price, surpassing the US$$ 80,000 mark.

At the time of writing, BTC is quoted at US$ 68,000, recovering from last week's drop, where it went from US$ 73,750 to US$ 64,500. The reason for the drop is linked to US inflation data, which emerged higher than expected and could have an impact on the Fed's interest rate decisions.

Although the fall has scared the newcomers, the old guard remains strong. In addition to Teng, Arthur Hayes is another executive who believes that the cryptocurrency market still has a lot of room to grow.