Last days were not so stable for cryptocurrency king. Bitcoin price rose several times over 7 000 USD level, and then fell again. How will it be this time, does Bitcoin price have chances to increase in long term?
Current BTC chart situation
Bitcoin has once again risen above 7 000 USD level. During last 24 hours BTC noted a 6,49% increase.
Yesterday’s session on Bitcoin was opened on 6 640 USD - it didn’t promise to be well. The closing was close to 7 116 USD - which certainly made investors happy. It was a 476 USD increase, so about 7,17%. Current BTC price is 7 089 USD.
Binance CEO believes in BTC success
According to what Changpeng Zhao, the CEO of Binance says, Bitcoin price will surely increase. It will not be an immediate increase, but a long-term process. His assumptions were based on the fact, that increased supply of fiat currency does not bode well. Bitcoin, in turn, is completely opposite, due to its limited amount.
In his opinion, everyone demands for Bitcoin to increase instantly. Some think, that fiat currencies printed by the governments will be used to buy cryptocurrencies. Why it is not like that? Changpeng Zhao says, that there is nobody who received this money so far.
He addmits, that start of this year was tough. However, cryptocurrency industry is doing well in this time. Bitcoin price suffered due to decreases that happened in March, but the volume of Bitcoin trading rose to very high level on top exchanges.