Binance CEO Richard Teng has shared his latest cryptocurrency forecasts as Bitcoin (BTC) remains around the mid-$60,000 mark. Speaking in a recent interview on the Bankless YouTube channel, Teng is confident that Bitcoin will surpass $80,000 before the end of the year. Looking ahead to 2025, he anticipates a strong year for Bitcoin and other digital assets, attributing this to improving macroeconomic conditions.

Teng highlights the significance of the approval of Bitcoin’s exchange-traded funds (ETF) earlier this year, and the potential approval of ETFs for Ethereum (ETH), as factors that could drive increased liquidity from traditional financial institutions into the crypto markets, further fueling the bull market cycle.

He expresses optimism for the future of the crypto industry, stating that 2025 is likely to outperform 2024 due to the overall positive macroeconomic environment. Teng acknowledges the unexpected institutional interest following the ETF launch, prompting him to revise his Bitcoin price prediction upwards for the end of the year, although he refrains from disclosing a specific figure. He also references projections from analysts, such as Standard Chartered, who foresee Bitcoin reaching $200,000 or even $250,000 next year, indicating potential for further growth.

With the recent approval of an ETH ETF and the influx of $15 billion into Bitcoin ETFs since the start of the year, Teng emphasizes the ongoing institutional demand that is beneficial for the crypto community. He underscores the importance of ETF approvals in bringing in new liquidity and user participation, ultimately contributing to the industry’s growth.

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