In the tweet of the day, Changpeng Zhao questions whether the price of Bitcoin will be able to increase 50 times once again over the next five years.
It has been an incredible five years for the entire crypto world. Well, in this time Bitcoin has gone from being a cult object in certain circles of technology lovers. To become one of the first financial assets worldwide. Driving a new market with dozens of projects and millions of dollars. That is why Changpeng Zhao, CEO of the Binance exchange, asks in the Tweet of the day what we can expect from Bitcoin in five years.
If we look back at 5 years ago, #BTC price was $220. There were ups and downs then, but we can't see them on the chart now, given the 50x increase.
— CZ Binance (@cz_binance) July 30, 2020
Five years in the life of Bitcoin
Speaking of Bitcoin’s advancement over the past five years, it seems incredible that just in 2008, during the Great Recession, this virtual currency did not exist. And even more, that it was not until 2017, with the great bullish rally that placed the price of BTC around $ 20,000, that the cryptocurrency became globally known.
And, there is no better measure of Bitcoin’s success than the advance in its price in recent years. Well, from costing $ 0 in 2009, it has managed to reach its current price above $ 11,000. Achieving an increase of more than 50 times in its price, just in the last five years. An achievement that could not be equaled by any other financial asset.
Therefore, it is logical to speculate where Bitcoin is heading. Considering that the crypto community is getting bigger every day, as new users and companies enter the BTC market. Which has prompted Changpeng Zhao to comment on the future of Bitcoin on his Twitter account.
“If we look back, 5 years ago the price of #BTC was $ 220. There were ups and downs then, but we can’t see them on the chart now, given the 50X increase. When we look back 5 years from now, what will we see? ”
In this way, Changpeng Zhao leaves open the question of what the future of Bitcoin will be. At the same time suggesting that the characteristics of the cryptocurrency could make history repeat itself. And that in five years we have witnessed a further 50-fold increase in the price of BTC.