In spite of losing 11% of its price, Bitcoin is still something to look forward to. The crypto king has always been the winner since the last 10 years, and the Binance Chief Strategy Officer thinks it’ll continue scaling new heights.
Presently, BTC is priced at $10,179.22 on coinmarketcap. The decline has reduced to 7.69% in the last few hours. The supply has 17,792,975 BTC coins in play. The trading volume recorded stands at $30.252 billion. The total market cap for Bitcoin is $181.118 billion.
A low attained was near $9839. The price for BTC has been reduced by 25% from its high at $14,000. Even though this points to a bearish trend and traders have begun to concentrate on support levels, the CSO of Binance can see the big picture.
In an interview with BlockTV, Gin Chao shared his thoughts on the bull-run that many are waiting for:
#WEEKINREVIEW: “If you look at historical patterns you are probably looking at new highs at least for bitcoin in the $50,000-100,000 range.” – Gin Chao, @Binance Strategy Officer. Check out the full interview at: //t.co/9EOuzS6ktu pic.twitter.com/lvnU0GntaE
— BLOCKTV (@BLOCKTVnews) June 30, 2019
XRP, Bitcoin Cash, Cardano, Tron, and other major altcoins have barely budged, in comparison to their all-time highs. Hence, Bitcoin is still said to be a safer bet in comparison to other tokens.
2019 was a year for BTC, Binance, and Litecoin, as the remaining altcoins displayed sluggish momentum. The market cap involving all the altcoins and bitcoin has sunk by $80 billion, in the course of a week’s time.
While many like Justin Sun and Charles Hoskinson have showered the users with promises, the market cap for their coins have grown, but prices have not shown any significant change. However, Cardano is known for its decentralized blockchain, which has led to Weiss Ratings vouching for them twice.
Bitcoin[BTC] is immensely profitable, and don’t miss the bullet-train as price trades near $10,000