Bitcoin has been stable in the recent times. As a result, the price volatility has dropped and the Bitcoin has looked stagnant. There have also been speculations about Bitcoin to hit the $9000 mark.
However, it remains to be seen when can the cryptocurrency hit that mark. Now Binance CEO Changpeng Zhao has said that he is unsure when will Bitcoin hit the $10,000 mark but it has evidently been stable over the past few weeks.
“I think sooner or later it’s going to break out,” CZ said. “But right now Bitcoin has been really stable. People have been calling it a stablecoin now.”
The Binance CEO is also of the opinion that has seen a drag down effect. “The stock market is probably a thousand times bigger than the crypto market. When that goes down, and a lot of people are losing a lot of money, many of those people who have crypto investments will want to convert those investments into cash.”
He, however, said that the safe haven properties of Bitcoin will come through over time.