Bitcoin (BTC) dipped under the numerous $90k assist within the newest crypto market crash, sparking investor issues. However, assuring buyers, Binance CEO Changpeng Zhao provided a optimistic outlook. Notably, CZ predicted that Bitcoin would rebound and ultimately attain $1 million.
In stark distinction, Bitcoin critic Peter Schiff forecasted a chronic downturn for BTC, viewing the current dip as merely the start of a bigger decline. While merchants and buyers stay cautious, let’s unveil what the present bearish dip may imply for BTC.
Changpeng Zhao Remains Bullish on Bitcoin’s $1M Rally
In response to the current crypto market turmoil, Binance founder Changpeng Zhao wrote on X, “No need to panic, bitcoin won’t die.” CZ’s phrases of encouragement sparked a ripple impact, because the neighborhood mirrored on his hopeful outlook.
Significantly, Changpeng Zhao’s bullish perspective was strengthened by a daring prediction of Bitcoin’s future journey. In an X post, CZ projected BTC’s rally to an formidable $1,000,000 following its current surge previous the numerous $100k level. In a playful submit, CZ wrote, “Waiting for the new headline: Bitcoin “CRASHES” from $1,001,000 to $985,000.”
Changpeng Zhao’s Crystal Ball: What’s After $100K Bitcoin?
Notably, Changpeng Zhao’s current $1M prediction comes on the heels of his earlier prediction of Bitcoin reaching $100k. On December 17, 2020, CZ posted a message on X, urging his followers to reserve it for future reference. The submit learn, “Waiting for the new headline: Bitcoin “CRASHES” from $101,000 to $85,000.”
In a shocking show of foresight, CZ predicted Bitcoin’s rally to $100,000 when the crypto was buying and selling at simply $20,000. This daring forecast has confirmed remarkably correct, with BTC reaching the $100K milestone inside a formidable three-year timeframe. Given CZ’s spectacular monitor report, his newest $1M projection for BTC is undoubtedly price consideration.
Recently, Changpeng Zhao reflected on the $1.4 billion Bybit hack, prioritizing safety. According to CZ, halting withdrawals is crucial following a hack to make sure security.
BTC Price Sets the Stage for a Major Rally
Reinforcing Changpeng Zhao’s predictions, market specialists present technical evaluation that highlights Bitcoin’s future rally. For occasion, Altcoin Scholar recognized that BTC is nearing a key rising trendline assist and a major horizontal trendline. This level, which is marked round $85k is essential for Bitcoin’s upward momentum.
Similarly, Ufo Calls, one other outstanding crypto voice on X, shared a bullish perspective regardless of BTC’s slip under the $90k stage. According to the analyst, Bitcoin is at the moment experiencing a short lived correction. They added that Bitcoin would rebound and proceed its upward trajectory.
Peter Schiff Challenges CZ’s Bullish View
In distinction to Changpeng Zhao’s optimistic prediction, Peter Schiff, a vocal skeptic of Bitcoin, cited, “Turn out the lights, the Bitcoin 100K party is over.” Schiff famous that Bitcoin’s entry into the bear market was surprisingly calm, moderately than chaotic.
Turn out the lights, the #Bitcoin 100K occasion is over. As is often the case, I’m positive most of you stayed too lengthy. Also, regardless of Bitcoin getting into a bear market at present, there was no panic or capitulation. That means the Bitcoin bear market will not be over, however simply getting began.
— Peter Schiff (@PeterSchiff) February 25, 2025
According to him, this subdued response may very well underscore the severity of the upcoming crypto winter. Deeming Bitcoin’s dip under $90k as simply the start line of an extended bearish pattern, he acknowledged, “The Bitcoin bear market is not over, but just getting started.”
As of press time, Bitcoin is trading at $87,578, marking a 1.91% lower in a day. Over the final week and month, BTC has skilled main dips of 9.07% and 13.58%, respectively. Despite its strong place within the crypto market, BTC’s buying and selling quantity plummeted by 24.11%, at the moment at $58.99 billion.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of expertise in blockchain, web3, and fintech spheres. She has established herself as a educated and interesting voice within the cryptocurrency and blockchain house. Her expertise as an Assistant Professor in English Language and Literature has additional added to her quest for crafting informative, well-researched, and accessible content material.
Disclaimer: The introduced content material might embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability in your private monetary loss.
