A former executive of the world’s largest cryptocurrency exchange expects that Bitcoin could soar higher than the $100,000 level.

Former Binance CEO Changpeng Zhao believes that the firstborn cryptocurrency is capable of hitting a higher price point, following its brief recovery to $100,000 on Tuesday.

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A “Boring” Level?

Bitcoin embraced the new year on a positive note as the crypto recorded a recovery that catapulted it to reach the $100,000 mark.

Zhao, who is also the founder of Binance, suggested that the top crypto asset can do better and surpass the $100k price point.

“100k is boring, right?” Zhao said in a post, responding to Bitcoin recovery.

Investors have seen Bitcoin reclaim its lost glory after hitting $100,000 after the digital asset slid down the key level on December 19, staying below $100,000 for quite some time before gaining momentum to propel it to this milestone level.

100k is boring, right?

— CZ BNB (@cz_binance) January 7, 2025

Bitcoin Destined To Reach New Heights

Zhao, popularly known as CZ, asserted that Bitcoin is far more capable of reaching a price point beyond $100k. Hence, the former crypto firm executive was not surprised with BTC making a comeback and surging in the last 24 hours.

The ex-Binance CEO’s post on X sparked excitement among members of the cryptocurrency community as Zhao’s post suggests that BTC prices could go up.

Last month, Bitwise executive Matt Hougan predicted that the bullish run for cryptocurrency would still gain momentum until 2025. Hougan expects that other top crypto assets would soar in price such with Bitcoin leading the charge.

Hougan believes that BTC could reach as high as $200,000 before the end of 2025, claiming that inflows from the Bitcoin ETFs could fuel the demand from corporate entities. This, as a result, would increase their exposure to the premier crypto asset.

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Positive Sentiment Continues

Zhao has a positive outlook for cryptocurrencies, saying that 2025 would be a “send it’ year” for digital assets. According to analysts, the term ‘send it’ is being used when there is excitement surrounding cryptos brought by soaring prices.

If you ever wondered why people tweet 4, it came from this tweet 2 years ago today. In hindsight, should’ve made “4” the “0”th point.

2025 will be a “send it” year. https://t.co/6f27u0mYez

— CZ BNB (@cz_binance) January 3, 2025

Other market analysts agree that digital assets would experience a surge in their prices in 2025, which would be driven by crypto adoption from institutional investors and national governments.

Although the former Binance CEO believes in Bitcoin moving past $100,000, Zhao did not provide a price prediction for the year. However, there were occasions that Zhao hinted that Bitcoin could be traded at $850,000 per coin.

Featured image from Getty Images, chart from TradingView

Bitcoin halving is now almost a year away and ChatGPT predicts Bitcoin price to surpass $100,000 after the fourth halving event in 2024. However, Binance CEO Changpeng “CZ” Zhao claims that ChatGPT can’t predict Bitcoin price and downplayed the Bitcoin prediction by ChatGPT based on historical Bitcoin price movements.

Binance CEO on April 20 shared a tweet mentioning Bitcoin price after three previous halving events. He believes historical data does not always predict the exact values, but it can hint at BTC price. The value of Bitcoin rises massively after each halving event as the supply of new coins into circulation is reduced by half.

Before & after the halving, you will hear a lot of “why didn’t the price move (everyday)?”#bitcoin price:
1st halving, 2012 Nov: $12
2nd halving, 2016 Jul: $658
3rd halving, 2020 May: $8,800
4th 2024: …

History does NOT predict the future. But zoom out… https://t.co/979tpNq9kf

— CZ Binance (@cz_binance) April 20, 2023

ChatGPT Predicts Bitcoin Price at $135,000 After Bitcoin Halving

As per ChatGPT, Bitcoin price can hit $135,000 after the fourth Bitcoin halving event in April 2024. Bitcoin halving results in an increase in the BTC price, reducing the block mining rewards by half and the supply of BTC.

ChatGPT predicted the Bitcoin price by comparing the BTC price after 1st halving in 2012, 2nd halving in 2016, and 3rd halving in 2020. As per the sequential analysis, it comes to around $135,000.

However, Binance CEO “CZ” said artificial intelligence (AI) has no idea about Bitcoin price. He didn’t shared his target for Bitcoin price after the halving event. As per Ark Invest CEO Cathy Wood, Bitcoin price will hit $1 million by 2030 and $500,000 by 2026.

As per Bitcoin Halving Countdown, Bitcoin will undergo halving at a block height of 840,000 between April 20-30, 2024. The Bitcoin block reward will decrease from 6.25 to 3.125 coins.

BTC Price To Rally 350%?

BTC price is currently trading near $30,000, 350% down from the target price of $135,000. While the current market conditions such as regulatory pressure, bear market, and macro make it difficult to believe that Bitcoin can rally 350% in a year, but historical data do indicate a massive rally near halving events.

At the time of writing, BTC price trades at $28,874, down 2% in the last 24 hours and over 5% in a week.

Also Read: Bitcoin (BTC) Price Sinks Another 5% As Sell-off Intensifies, Is $30K Possible Now?

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

• Digifox CEO Nicholas Merten believes Bitcoin could hit the six-figure value in 2022
• Bitcoin needs to grow by over $660 billion in a little over a month if it’s to hit the figure
• But BTC soared by 40% in October and similar spikes on the monthly timeline have been seen in the past

One of the most popular predictions for Bitcoin price in 2021 is that the flagship cryptocurrency is likely to easily top $100,000, with the six-figure level hit by end of the year.

The bullish outlook remains across the market, even as BTC price flips negative amid massive profit-taking on the back of an impressive run to highs of $69,000 in early November.

BTC to $100 “easily” achievable, just not maybe in 2021

Nicholas Merten, the founder and CEO of Digifox Finance has downplayed the prospects of Bitcoin rallying to the highly desired level this year. However, he does note that it’s entirely possible for the benchmark cryptocurrency, currently changing hands around $60,180, to reach the landmark in early 2022.

Here is what Merten had to say about Bitcoin’s prospects for 2021:

Hate to say it, but I’m 100% confident we won’t see #bitcoin hitting $100,000 by the end of the year.

Could it happen in Q1? Sure

Could it happen in Q2? Easily

For $BTC to reach $100,000, it’d have to add $661B dollars in market cap, equivalent to the last 4 months of gains.

— Nicholas Merten (@Nicholas_Merten) November 14, 2021

Merten, who also created the popular YouTube crypto channel DataDash, says that for Bitcoin to achieve the $100k price tag, it would need to add more than $660 billion to its market cap.

Bitcoin currently has a market valuation of $1.13 trillion and would need to see significant growth in the next one or so months to bring into play potential runs to $100k per bitcoin.

Bitcoin drawdown  catalysed by negative news and ETF rejection

Enthusiasm around Bitcoin following its Taproot upgrade has been dampened by news around Twitter’s move not to invest in crypto and SEC’s rejection of VanEck’s Bitcoin ETF application. Sentiment has stalled south in the past 24 hours and could sink further if sell-off pressure pushes BTC below support around $58,000.

Bulls point to a number of potential catalysts for a new crypto bull run.

Bullish for $crypto:

– rising cost of energy
– global inflation
– increasing # of celeb holders
– US cities launching their own coins

What am I missing?

— The Crypto Dog (@TheCryptoDog) November 17, 2021

Notably, Bitcoin price at $60k means a new rally in the region of 65% would get bulls close to the target. Bitcoin price grew 54% and 40% in November and December 2017 respectively, and after the 2018 bear market, its value jumped over 60% in May 2019. Most recently, bulls managed 40% as BTC surged from $44,000 to $67,000 in October. Price triggers and catalysts may vary in these cases, but it shows new gains are possible.

Bitcoin has lost about 15% of its value from the $69k level, and full-time trader and crypto analyst Michael van de Poppe says this could be followed by another drawdown.

The digital gold, a moniker for the top crypto for its comparisons with gold as a store of value, has tested support below $60,000 multiple times in the past 48 hours.