Bitcoin could stay below its peak of $69,000 for the next two years, according to the head of the world’s largest cryptocurrency exchange.
Zhao noted that four years ago, people would have been happy with Bitcoin’s current value of $20,000. The digital currency has previously fluctuated between $13,000 and $6,000 in 2018.‘I think given this price drop, from the all-time high of 68k to 20k now, it will probably take a while to get back. It probably will take a few months or a couple of years,’ Zhao told the Guardian, adding that ‘no one can predict the future’.
As well as the cost of living crisis, inflation has been soaring in recent months – hitting a 40-year high in the UK back in May – and it’s not just the UK which has been experiencing this, with inflation in the US also rising to around 8.6%, according to Marketwatch.