As inflows of capital into crypto ETFs continue to rise, the price of Bitcoin is expected to surge to a record high.
In the medium term, Binance CEO Richard Teng believes that BTC will surpass $80,000. The increasing influx of institutional investment into ETFs shows a growing interest among investors in allocating a portion of their portfolios to Bitcoin, which is increasingly being seen as a digital equivalent to gold.
This trend is just beginning and its impact will unfold in the coming months. Teng emphasized that the first significant milestone for Bitcoin will be reaching $80,000, indicating a strong demand for the cryptocurrency that has already increased by 56% this year.
While BTC briefly reached $73,798 last week, it has since pulled back to a trading price of $68,250.
