Former Binance CEO Changpeng Zhao (CZ) recently commented on the cryptocurrency market's current state, emphasizing that the present price dips should be perceived as temporary setbacks before the forthcoming all-time high (ATH) for Bitcoin.
CZ remarked that "everything" before the next ATH must be considered a dip by definition, setting a bullish tone for future price action. He noted the critical question remains whether another ATH will materialize, asserting that only a limited number of "strong coins" possess the long-term staying power and growth potential to achieve this milestone.
Supporting this outlook, billionaire investor Tim Draper reaffirmed Bitcoin's value and growth prospects by stating that Bitcoin is "valuable everywhere." According to recent CoinGecko data, Bitcoin experienced a brief intraday low near $98,467 but recovered to trade around $101,370 at the time of reporting.
In earlier forecasts, CZ predicted Bitcoin would "definitely" reach $1 million, reinforcing his long-term bullish stance on the leading cryptocurrency.