The President of the United States, Donald Trump, was in the news this week for mounting a $1 trillion stimulus package for the US economy in the wake of the coronavirus outbreak. This decision also went viral in the cryptonews and made Bitcoin (BTC) surge in terms of value following the news of the stocks market finally reconnecting with the gains. And this is why the Binance CEO predicts a $2 trillion market for BTC very soon.
Today, the CEO of Binance Changpeng Zhao is in the focus today for responding to these decisions and giving his new estimates for growth. The Binance CEO even tweeted that the new financial dialogue meant a $2 trillion market cap for Bitcoin which could be still considered “modest” in a scenario like it.
The Federal Reserve and central banks around the world started churning out fiat money in an attempt to prevent a deeper COVID-19 driven financial crash through quantitative easing. With trillions being on the table, Bitcoin has already seen price gains following the Fed’s suggestion that it could print an infinite amount of cash.
In that manner, the Binance CEO predicts a ride for BTC which will visit waves that could bring the dominant coin to $100,000. As he said in the Bitcoin price news:
“As we get used to talk about Trillions, a modest $2 trillion market cap of#bitcoin will put 1 BTC at $100,000. Not such a hard to imagine number now, right?”
Zhao went to explain that because most of the Bitcoin is in the hands of HODLers and not for sale, only a small percentage of the $2 trillion US stimulus package would need to flow into Bitcoin so that the cryptocurrency can achieve an equivalent market cap.
Of course, the bullishness of Zhao for Bitcoin is swiftly becoming a meme. Plenty of his Twitter followers responded that such a prediction could only be a sell signal. But with more dollars being printed each day, the Bitcoin limited supply may also go in its favor.
The price of Bitcoin today is at $6,733 with a nice increase compared to yesterday’s levels. We can finally see BTC stabilizing in the short term and luckily, the surge will last for a couple more days. Meanwhile, the ETH and XRP altcoins are in a solid position too and could be rising in the coming days as well, triggered by Bitcoin’s momentum.
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