After the recent stock market fall, the price of Bitcoin (BTC) may stay below its all-time high of $69,000 for at least two years, according to Changpeng Zhao, CEO of Binance, the largest cryptocurrency exchange in the world.
Last week, the market capitalization of the cryptocurrency with the greatest market cap traded below $20,000. For investors who still retain sizable positions in the coin, the decline represented more losses.
Zhao said that if he had informed them that BTC will be worth $20,000 in 2022 four years ago, they would have been “extremely thrilled.”
“Given the price decline from the all-time high of 68k to 20k, I believe it will take some time for the price to recover “On Thursday, he spoke with The Guardian. “It could take a few weeks, months, or even years.”