Binance CEO Believes BTC might not reclaim its all-time high for the next two years while it did manage to recover above $20,000 but since then, it hasn’t been any bigger upward movement so let’s read more today in our tin tức Bitcoin mới nhất.

This led to speculation on whether the digital assets will be able to reclaim the ATH in the near future. Changpeng Zhao, the Binance CEO believes that Bitcoin will not be able to recover to its ATH for the next two years and such recovery should not be expected anytime soon. In a recent report, the CEO of Binance shared some rather bearish sentiments for the BTC short-term. The digital asset which touched $69,000 in November and was unable to recover to that point and Zhao noted that such recovery won’t be taking place anytime soon.

The exchange founder said after dropping a lot from its ATH, it will take some time for the market to see the prices rising again. The CEO said:

“Tôi nghĩ với mức giảm giá này, từ mức cao nhất mọi thời đại là 68k xuống còn 20k bây giờ, có lẽ sẽ mất một thời gian để lấy lại. Có lẽ sẽ mất vài tháng hoặc vài năm ”.

It’s not all grim however given the price today will have been highly welcomed four years ago as the founder noted. An example is when BTC reached its peak last cycle and touched $20,000 and investors rejoiced at the price level before the market retracted into a bear market:

“20k chúng tôi nghĩ hôm nay là rất thấp. Nhưng bạn biết đấy, vào năm 2018, 2019, nếu bạn nói với mọi người rằng bitcoin sẽ là 20 nghìn vào năm 2022, họ sẽ rất vui. Vào năm 2018/19, bitcoin là 3,000 USD, 6,000 USD.”

The Bitcoin price has been on the rise lately and after touching as low as $17,600 the current price point provided a much-needed reprieve the investors. However, as the market is balancing out, more bearish signs are starting to emerge. Confidence in BTC dropped over the past few weeks as investor sentiment took a huge blow. Bitcoin went on to close another week in the red and marked more red closes so far with the year closing in the green. As such, it gave bears a stronger hold over the market in the short term. The sell-off continues to rock the market and threatened the $20,000 position. As such, it was quite unsuccessful when trying to break the $21,217 level but there’s support brewing at the $20,090 level which shows the bulls don’t plan to go down without a fight.