Bitcoin is set to continue its record-breaking rally and rise above $80,000 as institutional investors pour more money into the crypto-backed exchange-traded funds, according to Binance chief executive officer Richard Teng.
Teng said he had earlier estimated the cryptocurrency would end the year at around $80,000, but now sees it exceeding that “with supply reducing and demand continuing to come through.” The world’s largest cryptocurrency has surged 56% this year, reaching an all-time high of almost $73,798 last week.
Source: News Formal (newsformal.com)
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