Key Takeaways
- CZ predicts Bitcoin’s price will be $500,000-$1 million this cycle.
- Price predictions have rarely come true, at least not in the short term.
- Michael Saylor, Tom Lee, and Samson Mow are some other Bitcoin pundits who have given BTC $1 million price predictions.
Former Binance CEO Changpeng Zhao has joined the growing list of market pundits who believe Bitcoin price will top $500,000 this cycle before entering a bear market.
CZ’s comments came during a podcast interview with Rug Radio, during which he was asked where he thinks Bitcoin’s price tops at this cycle.
CZ Predicts BTC Price To Top at $1M
The former Binance CEO was put on the spot and asked about the Bitcoin price target for this cycle, to which he responded, “Very difficult question, somewhere between $500,000 and $1 million, I think.”
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While CZ is known for treading carefully with speculative price predictions, he has joined the growing list of Bitcoin proponents who have not shied away from giving absurd price predictions ranging between $200,000 and $1 million.
Currently, Bitcoin is trading just above $94,000, down over 13% from its all-time high of $109,114. However, it’s more than 70% down from CZ’s lower bound price prediction of $500,000.
Given that Bitcoin has already moved significantly post-halving with a mammoth rally, it’s improbable that the BTC price will surge by over 500% from here.
BTC Price Predictions Have Rarely Come True
CZ is not the only prominent crypto stakeholder who offers a bold BTC price prediction; several key market analysts and Bitcoin proponents have also made similar predictions. However, these Bitcoin price predictions have rarely come true, at least not in the short term.
For example, Max Keiser and Samson Mow predicted that the Bitcoin price would top $100,000 during the 2021 bull cycle. However, BTC price only managed to post a market top of $67,000.
Although the $100,000 Bitcoin price prediction eventually came true in 2024, it didn’t align with the projections.
In addition to CZ, Strategy founder Michael Saylor has given a $1 million per Bitcoin price prediction on several occasions this cycle.
Fundstrat’s Tom Lee is one of the popular market pundits who was among the first to make bold price predictions. In 2024, he predicted the BTC price to cross $150,000 the following year.
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