Binance Executive Believes Bitcoin Has A lot more potential

A recent interview reveals that Gin Chao, the strategy Officer at Binance, believes that Bitcoin has still a lot of upside potential left.

He predicts that if you take into account historical data from Bitcoin (BTC) you can see the leading cryptocurrency reaching $50,000 to $100,000 range which is around 8 times higher than the current price of $12,000.

Chao looks to the fact that there’s likely to be a “turning point” in the adoption of digital assets and as investors learn more about the nascent industry and weed out the bad and good investment in the space with BTC falling into the latter category, five to six digits prices he believes is attainable.

While this might be a far fetch number if we look at the current market situation, Chao is not the only industry analyst or executive to predict such a seemingly outlandish price target.

Josh Roger of Level noted that over Bitcoin’s three completed cycles the trough to peak gains decreased by around 80% each time, a concept defined by the law of diminishing returns.

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